Deposits

Deposits which are also known as bonds are paid by the tenant to the landlord when they rent a property. The deposit acts a security for the landlord should any damage be caused by the tenant during the term of the tenancy.

What is a deposit?

Deposits, which are also known as bonds, are paid by the tenant to the landlord when they rent a property. The deposit acts as security for the landlord should any damage be caused by the tenant during the term of the tenancy.

The property advertisement will clearly state how much deposit is required for each property. You will be required to pay the deposit on or before the date you sign your tenancy agreement.

The landlord will then need to register your deposit with one of the 3 Government approved schemes.

Once your deposit has been protected the landlord is required to send you the prescribed information about where your deposit is being held.

At the end of the tenancy if you and your landlord dispute the amount of deposit being returned then the dispute will be heard by the scheme.

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