Deposits
When you rent a property, you’ll usually be asked to pay a tenancy deposit before you move in. This is a set amount of money held by your landlord to cover things like damage or unpaid rent. Along with this is something called a holding deposit, this is not a requirement for renting and typically:
- This is paid before you sign a tenancy agreement.
- It’s a way to reserve the property so the landlord or letting agent stops offering it to other people.
- Its typically about 1 week’s rent
- If everything goes ahead, it’s usually put towards your first rent or security deposit.
- You might lose it if you back out or give false information.
Security Deposit
Security Deposit (often what people mean by “protection deposit”) - This is paid when you sign the tenancy agreement and it protects the landlord in case of damage to the property, unpaid rent and cleaning costs, etc.
How much is a deposit?
Your deposit is usually up to 5 weeks’ rent. Your landlord or letting agent cannot charge more than this for a standard tenancy.
Where does my deposit go?
Your deposit must be protected in a government-approved scheme.
This means:
- Your money is kept safe during your tenancy
- Your landlord cannot just keep it without reason
- There is a formal process for resolving disputes
Your landlord must:
- Protect your deposit within 30 days
- Give you details of the scheme it’s held in
Does my deposit count as rent?
No, you should still:
- Pay your rent as normal
- Look after the property
- Report any issues early
If something goes wrong, keeping a record (photos, emails, messages) can help protect your deposit. An inventory is also important because it records the condition of the property when you move in and is used to decide if any deposit deductions are fair when you leave. It helps prevent disputes by showing what damage was already there and schemes like the Tenancy Deposit Scheme or Deposit Protection Service rely on it as evidence.
How do I get my deposit back?
At the end of your tenancy you should get your deposit back if everything is in good condition and the rent is paid. Your landlord may make deductions for:
- Damage beyond normal wear and tear
- Missing items
- Unpaid rent
They should not charge for general wear and tear.
What if I disagree with any deductions?
You can raise a dispute through the deposit protection scheme, which is free to use, independent and based on evidence from both sides, hence why it is important to keep a record (photos, emails, messages).
I’m in a joint tenancy so how does my deposit work?
There is usually one deposit for the whole household, this means you are jointly responsible for any deductions and issues caused by one person can affect everyone. It’s a good idea to agree expectations as a group, keep copies of your inventory, report repairs early and communicate with the landlord with regards to any issues in writing, preferably email rather than text or WhatsApp.
Remember, the SU Advice Team can also help you understand deposit schemes if you need further advice and guidance.
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Need help?If you are unsure about a property, contract or housing issue, do not sign until you have asked for advice. |
