Deposit

A Deposit is required for all tenancies that will be held and returned under the terms of the myDeposits Tenancy Deposit Scheme, an insurance based scheme. We hold all deposits within the terms of the scheme, any interest earned being retained by us to cover administration costs.

Once the check-out procedures have been completed will we be in a position to return your deposit. We would like to do this at the earliest opportunity but will be unable to do so until ALL of the check-out requirements are satisfied and the cost of any cleaning, disposals or damage has been determined. In any event, however, we aim to ensure that this process is completed within 20 working days of the end of the tenancy.

Your deposit will not be unreasonably withheld, we do not view this as an additional source of income. Rather, monies shall only be deducted from the Deposit in respect of all reasonable costs and expenses incurred by the Landlord (including but not limited to the costs and fees of the Landlord’s solicitors and other professional advisors) in respect of:

Rent arrears – Where the rent from one or more tenants is in arrears
Check-out cleaning – Where the property has not been properly, professionally cleaned at check-out
Other valid deductions – Including such items as damage to the Property or Contents, the cost of disposal of personal effects that are not removed, the cost of lock replacement in the event that keys are not returned, etc.
Compensation – In the event that you do not vacate the property on the due date.

Please note that we subscribe to a credit referencing agency and it is incumbent on us to provide details of tenants that leave owing rent or other expenses. This information is shared with other credit agencies and is available to letting agents and landlords, so any defaults could harm your credit rating both now and in the future and seriously affect your ability to find rented accommodation in the future.