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Resolving deposit related disputes is easy with Deposify

By 02/04/2016 No Comments
Using Deposify, resolving deposit related disputes is made simple

There is nothing worse than getting into a legal conflict with anyone, on anything – what do I do next, where do I go for help and how much is this going to cost me?

Deposit disputes waste everyone’s time and money

When you’re renting a property, as a landlord or tenant, the very last thing you want is to find yourself in a deposit related dispute at end of the tenancy – which can be unnecessarily costly and time consuming, for what are effectively low value claims relative to other types of claims that make it before the formal Courts with similar resolution processes.

Landlords, tenants and letting agents do not want to be in a dispute – we keep getting told that. It causes disruption for everyone, with the likelihood that you might spend more than 18 months trying to resolve within the existing legal solutions.

For landlords and letting agents in particular disputes are simply bad for business – disputes draw on time and resources, and from the industrial landlord to the accidental landlord, no property owner needs more expenses, especially in a market like this.

And tenants just need the money back, and fast – as most can’t take the financial hit, given they’ll likely need to rollover the deposit to their next landlord.

So what everyone ends up with in the event of a deposit related dispute is an adversarial court-style process, where the parties have to come prepared with all of their evidence in hand and possibly a solicitor or other professional advisers on the clock, with all of the attendant anxiety of having their dispute aired in public and the added frustration that this is a potentially drawn-out process to recover a deposit.

What if there was another way?

We think the legal processes and approach to date have been well meaning but over-engineered for the overwhelming majority of users.

Would it not be better for nearly everyone involved if the parties were given the means to try and resolve the dispute between themselves? And would it not be better to do this quickly and cheaply?

So we went and built it – the Deposify alternative dispute resolution for deposit related disputes.

At its core, Deposify gives landlords and tenants the tools and information across the platform to try and resolve disputes in days or weeks at the most.

The alternative to existing remedies

This dispute resolution process is available to Deposify users who jointly elect at the time of dispute to use it as an alternative to existing remedies.

And if the parties can’t resolve the dispute between themselves, a Deposify adjudicator from our panel of independent domain experts will join the conversation and resolve within days – and the deposit released to the parties at that time.

Easy – and everyone moves on quickly using Deposify, as it should be.

You can find out more about Deposify and get early access to the future of deposit management by signing up here.

Image: Avatar_023/Shutterstock