Negotiation

How to begin the negotiation process

Negotiation

We are calling the negotiating stage a ‘release request’ so the parties can treat the return of the deposit like a release request in our Custodial scheme

How to begin negotiation

On your home dashboard, you will see a summary of information relating to tenancies, releases and resolution.

You can now use your mydeposits account to negotiate the return of the deposit.

1. To initiate a release, go to 'Tenancies' and either search for the tenancy using the address, landlord or tenant name and click on the relevant tenancy

2. Next, select the 'Deposit' tab and you will be able to click 'Start release request' at the top right corner

3. A pop up will appear for you to enter the date the tenant left the property or confirm if the tenancy did not start. Also, you will be asked to confirm whether any money has been returned to the tenant and to select whether you are releasing the whole deposit or requesting a settlement as a proposed deduction you are looking to make from the tenants deposit

Please note: Selecting ‘Whole deposit returned’ and clicking 'Next' will confirm you are, or have, returned the whole deposit to the tenant. Skip ahead to discover how to return the whole deposit

4. If you are requesting a settlement, the next step will be to upload the key tenancy documents on the platform

5. You will be asked how much, if any of the deposit, you have returned to the tenant

6. Once you have uploaded your documents, click the 'Add settlement' button

7. Complete the details for each proposed settlement including, the amount claimed, the type of settlement, and any comments you'd like to make in support of your claim. Make sure to add all supporting evidence

8. You can also add multiple settlements if needed by clicking the 'Add settlement' button

9. Once all of the settlements have been added you need to confirm your bank account details in the event that the case proceeds to resolution

Please note: You can upload any general evidence that you feel is relevant to the whole release request and not just individual settlements

When you have added all settlements, you will see a summary of the amount claimed and what you have returned to the tenant.

During the negotiation stage, you can increase or decrease your offer, but will be unable to add more settlements.

10. The confirmation screen will show you a summary of all of the information you have provided

11. Click 'Request settlements' and 'Submit and send' to complete the release request and begin the negotiation

You will then see the status change to negotiation when a RR (release request) number will be generated.

Remember: At this point the chat facility function will be open for you to start a discussion with the tenant

Please note: Documents will help when negotiating with your tenant. If you have no documents, you will need to explain the reasons why they are unavailable

What does the tenant need to do?

The tenant can now respond to the release request by:

1. confirming the date they vacated the property, their bank account details and whether any money has been returned

2. viewing the release request including any settlements and evidence provided

3. accepting the settlement or proposing a new amount and including their own evidence for negotiation

Please note: If the tenant proposes a new amount, this will show in the new offer box with a summary of the proposed release

4. providing their reasons for proposing a new settlement

5. clicking ‘Renegotiate’

After the tenant has confirmed, any accepted settlements will be marked and the new proposed offer amount will show.

Please note:
The tenant's response to the release request will be sent to you by email, text message and a portal notification. You will need to login to see the tenant's reason for proposing a new settlement amount which you can respond to

Agent next steps

1. The tenant's proposed settlement will show on the dashboard. If the tenant has provided evidence you can see this too

2. You then have the option to accept the tenant's proposed amount or respond with a alternative offer

3. If you are proposing an alternative offer you must provide a reason

4. By clicking ‘Renegotiate’ and offering a new amount, the latest offer will be sent to the tenant which they can accept or propose another offer, again with a reason

This new negotiation process means:

an unlimited amount of negotiation can take place in the chat facility over a 90 calendar day period
you and the tenant can reach a mutually agreeable resolution
all messages used for negotiating in the chat facility will be saved and can be referred back to if needed

Where negotiation is unsuccessful, you have the option is to move the case to our resolution team.

If the tenant does not respond to the release request, you will have a record to show you tried to negotiate the return of the deposit but the tenant chose not to respond
The tenant can also begin the release request after they vacate in a similar way to how they would have raised a dispute. You now have control of the process by attempting to negotiate or moving the case to resolution. If you do not respond to the release request after ten working days, the tenant can move the case to resolution

Top tip: Sharing documents and files in the chat window will support the negotiation

Top tip: You will be able to give us the most up to date details you have for your tenant if they have not activated their online account and we only have outdated contact information

If there is no response from the tenant by the deadline, the release request will be closed

How to return the whole deposit

1. Click ‘Start release request’, enter the date the tenant vacated the property or tick the box if the tenancy did not start

2. Select ‘Whole deposit returned'

3. Click ‘Next’, confirm the release details by pressing ‘Submit and send’

4. The tenant now will have the option to confirm the amount has been returned or say that a different amount has been received and start negotiation

The deadline for starting the formal resolution process will be specified, and the case will progress depending on the tenant's response.

If the tenant agrees that the whole amount has been received, the release request will be closed.

Top tip: You will be able to give us the most up to date details you have for your tenant if they have not completed their online account setup and we only have outdated contact information