Deposits
| Deposits |
Most householders request a deposit in advance of a tenant moving into the property, this is usually a sum of money ranging from four to six weeks rent. Landlords require this to cover themselves against damage to property, rent arrears, the possibility that you will leave oustanding bills or without adequate notice.
Deposits are returnable in full when you leave the accommodation, unless the householder makes a justifiable deduction for damages or rent arrears.
HOLDING DEPOSITS
Landlords and Rental Agencies sometimes charge potential tenants a “holding deposit”, which is supposed to ensure that you are the only person being considered for renting a certain property. It is also supposed to stop landlords/agents marketing the property once you have paid the holding deposit.
However:
- This does not mean other agencies are not advertising the property on behalf of the landlord.
- This does not guarantee you a contract of the property.
- You could LOSE YOUR MONEY if YOU decide not to rent the property.
Always:
- Read & make sure you understand the terms and conditions before you pay any money. Keep a copy for your records.
- Get a receipt with all the details.
| Deposit Protection Scheme |
If a tenant pays a deposit for an Assured shorthold tenancy (the most common form of contract) to a householder or letting agent; this deposit must be protected through a tenancy deposit protection scheme. This basically means your deposit money has to be given to a independant organisation for safe keeping in an account during you tenancy.
A Landlord must provide evidence that a deposit has been protected within 14 days of receipt. For further information about the types of schemes in place and the tenant's rights please use the following website.
www.direct.gov.uk/en/TenancyDeposit/index.htm
If any disputes do arise between a householder and a tenant at the end of a tenancy, then an alternative dispute resolution service (ADR) will be in place to mediate between the two parties.
| Reclaiming Your Deposit |
At the end of a tenancy, once the tenant and landlord have agreed how much is to be paid back, either full or part, it must be paid back within ten days.
If there is any dispute between the landlord and yourselves then both must agree to use an Alternative Dispute Resolution (ADR) service. You will also have to agree to be bound by its decision with no recourse to the courts. Courts will only be involved in disputes if the landlord and tenant do not agree to use the ADR service.
| Inventories |
To avoid later disputes, prior to handing over a deposit it is important to get an inventory of which items are in the accommodation and its condition before you move in. If possible, get the householder to agree a written list with you. If this is not possible make a note of the condition yourself taking photographs (or better still a video) of any scratched surfaces, marked walls, torn carpets, stained tables etc. which are already there.
Note: Before moving out of accommodation it is always a good idea to thoroughly clean and tidy it. That way, when the householder comes around to inspect, you will be presenting the property in a state which demonstrates that you have been a considerate tenant. Landlords/agents may charge for professional cleaning if the accommodation is left in a mess. They will deduct the cost of this from your deposit, if they do always ask for a receipt to prove the correct cleaning bill is charged.
 |
| Private Rented Accommodation |
 |
| Cost and Types of Accommodation |
|
| Where to Look |
|
| When to Look |
|
| Deposits |
|
| Moving In |
|
| Essentials - Checklist |
|
| Travel and Transport |
|
| Legal |
|
 |
