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  • Deposit Protection

    Max deposit amount ??

    Hi Tribe

    I understand from my previous experience that  it's 6 weeks rent and  maximum up to 2 months.

    Any thoughts or experience that will be appreciated. I looked this details from government website but could not find anything.

    Regards

    MB

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    Hi, I think ideally it should be at least 6 weeks rent as some tenants dont pay the last month as they are leaving anyway.

    I would say it depends on whats the norm in your area, what type of tenant you have and is it furnished or unfurnished ?

    Also you need to have a detailed photographic schedule of condition and inventory to cover yourself in case of claiming the deposit at the end.

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    If your new tenant has any pets then you will need to take extra to cover .

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    There is no maximum amount for a tenancy deposit at the moment. Lots of people think there is but it is a misconception. When the Tenant Fees Bill comes into force there will be a maximum and it will be set at 6 weeks rent

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    David Smith
    Landlord & Tenant Solicitor
    Anthony Gold Solicitors

    Find me on LinkedIn: uk.linkedin.com/in/dsnsmith

    All opinions are my own and do not reflect those of my firm. No comment made should be taken as legal advice and you should consult a solicitor or other legal professional for advice on your specific situation.