Our privacy policy has recently changed, please view our updated privacy policy Hide Message
  • DowningStudentApril2019
  • RRApril2019
Affiliated with
Housing Advice - Deposits
There are two different types of deposits: a holding deposit and a security deposit.
 
Holding deposit A holding fee is paid if you agree to take the property, but have not signed the contract to take up the tenancy. Don’t pay it if you’re not absolutely sure. It will probably not be refundable. It should be a maximum of 2 weeks rent; do not pay more to 'take it off the market'. Ask for a receipt and a copy of the terms and conditions.
 
Security deposit The security deposit is an amount of money, usually 4 to 8 weeks’ rent, that you pay to the agent/landlord for any damage and/or cleaning that may be required when you leave the property. The return of your deposit will rely on a number of conditions laid out in your contract. Most common causes of deductions relate to the state of the property when you leave, so ensure you read our guidance about inventories.
 
What is Tenancy Deposit Protection?It is designed to ensure:
  • You get all or part of the deposit back when you are entitled to it
  • Disputes between you and your landlord will be easier to resolve as an independent third party is involved
  • Tenants and landlords/agents make a clear agreement from the start on the condition of the property
Your deposit should be protected in one of the following schemes:
Your landlord is required to provide details about how your deposit is protected within 30 days of you making the payment. This is called prescribed information and should include:
  • The address of the rented property
  • How much deposit you've paid
  • How the deposit is protected
  • The name and contact details of the TDP scheme
  • The name and contact details of any third party who is paid the deposit
  • Why they would keep some or all of the deposit
  • How to apply to get the deposit back
  • What to do if you can’t get hold of the landlord at the end of the tenancy
  • What to do if there’s a dispute over the deposit 
You should be given a copy of the deposit protection certificate signed by the landlord. You may also be provided with a repayment ID number. Keep this safe as you will need it to claim your deposit when you leave.
 
Getting your deposit backOnce you move out of the property, your deposit should be returned within 10 days of you and your landlord agreeing how much you will get back. Your TDP scheme offers a free dispute resolution service if you disagree with the amount offered
If your landlord hasn’t used a TDP scheme you can apply to your local county court who can order the person holding the deposit to:
  • Repay it to you
  • Pay it into a custodial TDP scheme's bank account within 14 days
The court may order the landlord to pay between one and three times the deposit.
 

Student Hub, Imperial College, London, Level 3, Sherfield Building, London, SW7 2AZ
Tel: 020 7594 9444, Email: student.hub@imperial.ac.uk

Copyright Studentpad Limited © 2019. All rights reserved.

Student accommodation search powered by

Studentpad Ltd
Please Wait...