How much is the deposit, how long is it held, what is it used for and how do you safeguard it?
Equivalent to five (5) weeks rent. It is held for the duration of the tenancy and can be used against a default on rent or damage to the property.
All deposits for Assured Shorthold Tenancies (AST’s) are lodged with and protected by the Deposit Protection Service. This is a custodial tenancy deposit scheme, set up to protect both landlords and tenants with regards to the return of deposits, subject to the property being returned in the same condition as when you moved in, with the exception of fair wear and tear and no rent or other monies pertaining to the tenancy being outstanding.