A deposit is a payment which the landlord will hold, via a government backed deposit scheme, to protect him in the event of you deliberately causing damage to the property, not paying your rent, or leaving bills unpaid when you vacate the property. Most landlords will ask for one months's rent as a deposite and one month's rent in advance. The deposit should be returned to your when you leave, unless the landlord has a justifiable reason for retaining all or part of it. The landlord willl be entitled to make a reasonable deduction for any damage, unpaid rent, unpaid bills, or missing items.
From the 6th April 2007 all deposits taken by landlords must be safeguarded by one of three Government approved schemes. Landlords can choose which scheme they wish to use and must safeguard each deposit and inform the tenant which scheme has been used within 14 days of receiving the deposit.
An agreement should be made between the landlord and the tenant at the time of signing the tenancy agreement how the deposit will be paid back. Subject to any deductions the remainder of the deposit should be returned within 10 days of the end of the tenancy.
1st August 2008Read Full Question and Response
