The deposit is generally the equivalent of anywhere in between one month’s rent to six weeks rent. The deposit is held in respect of dilapidations to the property or for non-payment of utility accounts. You could also lose your deposit if you terminate the agreement prior to the end of the tenancy unless agreed with the Landlord/Agent before the commencement of the tenancy. Remember that the money held as a deposit remains yours at all times and not the landlords and only by mutual agreement should any money be deducted.
Your deposit or part of it will be withheld if you:
- fail to return ALL keys at the end of the tenancy
- are responsible for any damage to the property, either wilful or negligent
- have not cleaned the property adequately
- have left rubbish which needs removing from the property
