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  • Deposit Protection

    5 weeks deposit

    I believe from -1st June there is a restriction on deposit to be of maximum 5 weeks.

    If the tenancy is starting from July but agreement has been signed before 01st June and deposit ( higher than 5 weeks ) already taken.

    What would be the suggestion in this scenario  ?

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    Return any excess back. Only have 5 weeks...also make sure your calculation is right - always round down than up so you're not even 1p over your 5 weeks worth of rent. You might be ok until 1st June 2020 but since you're only starting your tenancy then might as well get it correct now rather than having to remember in the future and then break terms.

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    Saagar

    Disclaimer: I'm not a legal expert or an advisor on any subject. A mere landlord using open forum to share ideas and experiences.

    Definitely don't risk being a test case.  Five weeks maximum and you'll be safe.

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