My tenant of four years moved out a month ago. I paid him his deposit within days after he moved out. He says I short-changed him and is asking me to pay interest on the money. The deposit was a large chunk of cash, so I can understand why he’d be trying his luck. But I just want to find out whether he has any leg to stand on. I’ve never paid a tenant interest before.
Do you have any suggestions for how I can reduce the risk of our customers being scammed into paying money into fraudulent accounts? We’re a manufacturing business with most of our customers paying us on account. Recently our company seems to have become a target. It has come to my attention that a number of our customers have received letters asking them to update the bank account details that they have for us. My concern is firstly that I don’t want any of our customers to fall for this, and secondly I’m concerned that if a customer does fall for it, they might not have the cash available to pay us, or even try to argue that we should take the loss.