Deposit

The deposit is used to reassure the landlord money is available to pay for damage that may occur during a tenancy.

The prospective tenant should allow for 1.5 x your monthly rent as a desposit payable before taking up a tenancy.

Historically some landlords and/or their agents have abused the practice of taking and returning deposits. Now there is a legal obligation for the deposit to be held by a stakeholder registered under the Tenant Deposit Scheme. HEL uses letting agents to ensure compliance with this aspect of residential letting. Should a dispute arise as to the level of deposit proposed to be taken against damage or non-payment of rent the dispute will be heard by an Independent Case Examiner of the Dispute Service Limited.

10-12-2012