How a Suitable Deposit Protects Both the Landlord and the Tenant

Summary

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What is a Deposit? If you are looking to rent a property, then the agent/landlord will often require a deposit (also sometimes called a bond) to be paid at the start of the tenancy.

This is to protect the landlord against losses due to any damage caused by the tenant (other than fair wear and tear), any rent arrears up to the end of your tenancy or other debt incurred when a tenant leaves. You should always ask for a receipt when paying the deposit.

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Extract

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How a Suitable Deposit Protects Both the Landlord and the Tenant

The deposit normally equals four times the weekly rent and under the latest regulations all new tenancies where a deposit is paid have to be registered ...

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