A tenancy deposit is money held as security against damage or unpaid rent. In England and Wales, deposits for most assured shorthold tenancies must be protected in a government-approved tenancy deposit scheme. Other parts of the UK have their own schemes and rules.
What to check
- Ask which deposit protection scheme your deposit is held in, and keep the confirmation.
- In England, the Tenant Fees Act limits most deposits for tenancies where annual rent is under £50,000 to five weeks' rent.
- Holding deposits, used to reserve a property, are also capped in England.
The inventory matters
At move-in, go through the inventory carefully and photograph everything, including existing marks and damage. Send any corrections in writing. This record is your best protection at the end of the tenancy.
Getting your deposit back
Leave the property clean, return all keys and request your deposit in writing. If you disagree with deductions, the protection schemes offer free dispute resolution.
Figures and rules change. Check GOV.UK or the relevant devolved government website for current details.
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Fardin Fahad is a London-based entrepreneur, writer and the founder of Studycation, a UK education consultancy that helps international students with education, careers and building a life in the UK.
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