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Securing deposits

axer · 2011-06-28 22:08:04

Hi, Just looking at this situation here: http://www.boards.ie/vbulletin/showthread.php?t=2056312027 whereby a deposit is at risk because the landlord has gone into liquidation. In Germany, for example, deposits are placed in a special bank account for the purposes of deposits. The landlord needs to authorise the release of…

28-06-2011 10:08pm

#1

axer

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Join Date: September 2004

Posts: 5185

Hi,

Just looking at this situation here:
http://www.boards.ie/vbulletin/showthread.php?t=2056312027
whereby a deposit is at risk because the landlord has gone into liquidation.

In Germany, for example, deposits are placed in a special bank account for the purposes of deposits. The landlord needs to authorise the release of the money before the tenant can get it back but they cannot take the money either. It means that the deposit is always secured from the likes of bankruptcy etc and the tenant also keeps the interest that the deposit generates.

Is there anything like that at all in Ireland to avoid a situation like the OP in that thread?

Seems pretty ridiculus that the landlord has full access to the tenant's money and can actually use the money to generate more money - interest etc.

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