Need some tenancy lease legal jargon translated!!

anna2402

Can anyone tell me exactly what this means?!? Do not want to sign a lease without knowing what this is and what that 1300 euro means!!

"On signing hereof to pay the Landlord the sum of €1300.00
as security for the payment of rent reserved and compliance
with the terms of the said letting which said sum subject to such
payment and compliance shall be refunded on the expiration of
the said Tenancy without interest"

Ritchi

That's your deposit I assume?

accensi0n

'Pay your rent and don't wreck the place and you'll get your full deposit back.'

the world wonders

anna2402 wrote: »

"On signing hereof to pay the Landlord the sum of €1300.00

You agree to pay the landlord €1300.

as security for the payment of rent reserved

If you do not pay the rent you will lose this deposit.

and compliance with the terms of the said letting

If you do not comply with the terms of the lease you will lose this deposit -- this condition is likely unenforceable as the Residential Tenancies Act 2004 prevents the landlord from retaining the deposit except in cases of unpaid rent or damage beyond normal wear and tear. Breaching some other random term of the lease (e.g. no pets, moving extra people in without asking,...) will not entitle the landlord to retain your deposit.

which said sum subject to such payment and compliance shall be refunded on the expiration of the said Tenancy

You will get the deposit back when you move out.

without interest"

You are not entitled to any interest earned on the deposit by your landlord during the tenancy.

I presume your monthly rent is also €1300, same as the deposit? If so, this is a bog-standard lease clause and I would not have any worries about signing it.

anna2402

No, I've already paid my deposit (€550, which is the monthly rent) which is why I'm so confused, it couldn't possibly be a typo could it!?

Ritchi

anna2402 wrote: »

No, I've already paid my deposit (€550, which is the monthly rent) which is why I'm so confused, it couldn't possibly be a typo could it!?

It definitely could. They tend to reuse old contracts and modify, so they may have just missed updating this.

The only way to know is to ask them.

aN.Droid

anna2402 wrote: »

No, I've already paid my deposit (€550, which is the monthly rent) which is why I'm so confused, it couldn't possibly be a typo could it!?

It's probably the same lease used for all lettings by the same landlord. Just a template. Query it with him.

anna2402

Oh I have! All I got was. Reply saying deposit received with thanks, no questions answered. I really shouldn't sign the lease if the deposit amount is incorrect surely??

djimi

Do not sign that lease until you have that query rectified. Its almost certainly a mistake on their part, but by signing it you are agreeing to pay a deposit of €1300.

anna2402

Have requested a new lease from the agency, tbh I think she may have been a bit too proud to admit the typo...But I told her anyway of course and asked for a corrected lease. Thanks for the help people! First time poster - great response!