Deposit Return Policy for
Properties Managed by Duck&Hedges Ltd

1. Before we can process a Tenants deposit, they will need to provide us, in writing (email preferable), with;

a) UK postal forwarding address, the reason for the termination and details of one nominated bank account where the balance of the deposit can be transferred via BACS.

b) Final statements, showing a zero or credit balance for the last period up to and including the final day of the tenancy for Council Tax, Water, Electricity & Gas services. All statements and forwarding address should be scanned and emailed to management@duckandhedges.com.

2. The Inventory Check Out report will then be reviewed to check for any damages or changes to the property/property contents during the Tenancy (if any). We can usually finalise the deposit and send it to the Landlord for approval within 7 working days following receipt of point. 1.
 
3. The Landlord is given a maximum of 7 working days to approve the return and a BACS payment is usually raised within five working days from your confirmation of deductions (if any).

4. We endeavour to return the balance of Tenants deposit at the earliest possible opportunity. The average time for return is currently 30 days (from receipt of final bills). The sooner we are given Point. 1 the sooner we can process the return.

5. The deposit transfer will be made to one member of the household (usually the “Head Tenant”) and sent via BACS to the account you provide in Point. 1.

Before we release a deposit for a property we do not manage, we require;

1) Authorisation from the Tenant and the Landlord, in writing by email or letter. The Landlord should advise the Tenant of any deductions they intend to make from the deposit (Cleaning, Inventory check-out, etc). Once these deductions are agreed they will need to advise us of the deductions (if any) in writing and the Tenant will need to confirm the same in writing. If no deductions are to be made the Landlord will still need to confirm this to us in writing.

2) In addition the Tenants will need to provide us (in writing);

a) A forwarding address for the Tenancy

b) Full bank details of one account where the balance of the deposit can be transferred

Once all information is received the balance of the deposit can be transferred to the Tenants within five days of the next file review date. Files are usually reviewed once every Wednesday.

All correspondence regarding deposist should be sent to management@duckandhedges.com with the subject line conaning the property address.

NB: The Landlord may also require closing utility statements showing a zero or credit balance before the deposit is processed.