Summary
- What is a security deposit, and how much can I ask?
- When is it paid?
- Do I have to charge a deposit?
- How to calculate a deposit
- What is the deposit protection scheme?
- What do I need to know about deposit protection law?
- What are the penalties for not abiding by the deposit protection law?
- What schemes can I use?
- Must I hand the deposit over to the scheme?
- How to avoid disputes with your tenants
- Do I need to return the whole deposit and how long do I have to do this?
- Can I charge for referencing during a tenancy application?
- If new laws mean I have to take pets can I charge a higher deposit?
- Tenancy Deposits: Things to remember
You’ve made the ideal investment and have furnished your rental property. You’ve checked the references of your soon-to-be tenant. But you also want to take a security deposit to protect yourself from any damages down the line. Here’s the lowdown on what you need to know.
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