Is it a legal requirement to take a deposit from a tenant?
Asked on Jan 20 2010,
Renting in Manchester |
In short, Yes. Your landlord is responsible for registering your deposit in 1 of 3 schemes. These are specialist schemes for protecting tenants deposits. You must have a deposit so that if any problems arise within the property due to the tenant, then the landlord will be fairly compensated for the damage.
Answered on Jan 21 2010,
Sorry to disagree with Martin & co but the answer is no. There is no legal requirement making a landlord take a deposit but they all do to cover potential damage during the tenancy. Only use an agent ot landlord that registers any deposit with a goverment approved scheme such as the TDS or DPS to be as sure as you can it is safely protected.
Answered on Feb 11 2010,
NO it's not a legal requirement to take a deposit from a tenant but if you do then it must be paid into a deposit protection scheme. It protects you and the tenant but it costs the landlord to use it. A few landlords I know now only take a months rent in advance and do a good check on references and if needed get a guarantor.
Answered on Feb 15 2010,
Deposit is at landlord's option but they MUST keep it in separate account by law, in case they go bust.
Answered on Aug 17 2011,
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