(/\) House Logo london renting
:: London Accommodation Search Engine
Welcome to London Renting

London Renting - Renting Tips - Deposits

You are here: home > renting tips > deposits

Deposits

1. What are deposits for?
2. How much are deposits normally?
3. How can I guarantee getting my full deposit back?
4. Inventories
5. Chasing up your deposit

1. What are deposits for?

Deposits are a mechanism by which letting agencies and landlords cover themselves for such things like tenants not paying rent or damage (intentional or otherwise) inflicted on a property.

2. How much are deposits normally?

Deposits are often 1.5 times a months rent but can be any value.

3. How can I guarantee getting my full deposit back?

You can't guarantee it, but if you pay all your rent and don't damage anything then you should get it all back. HOWEVER letting agencies (and sometimes landlords) have a large number of properties so to calculate whether anything has been damaged they check the inventory against the state of the house or flat when you leave. This is why inventories are so important.

4. Inventories

The inventory describes the state of the accommodation and it's contents, when you moved in.

It is very important that when you move in to a place, that you declare anything that seems to be a discrepancy on the inventory. The state of something is fairly subjective, so accurate descriptions are better. It can be a good idea to add comments next to each item, for example "bedroom 1 - carpet" you could add the the note "wax stain size of a dinnerplate near radiator", this would be better than making a comment like "carpet is in average condition". As that is more subjective and open to inacurracies and misunderstandings later on. There's nothing worse than a letting agency doing a house inspection and asking you why something is damaged, when it was done by a previous tenant! So sort out the inventory.

Note also that sometimes it is a good idea to take photos of the house... this is a hassle but it really depends how much you want to cover yourself later on when getting back your deposits etc.

It is also a good idea to be up front about breakages and general wear and tear as you go along, as otherwise if you declare it all in one go after two years of living there, psychologically it might look like you've just trashed the place in one go, whereas it was just a little degradation over a period of time.

5. Chasing up your deposit

Sometimes it appears that a letting agency or landlord is unfairly holding back part of the deposit. Most are ok, but some unscrupulous agencies and landlords may try and make some extra money from you at this point! It's at times like this that accurate inventories with accompanying photographs are useful. A common method of ripping someone off is when the agency or landlord make a claim that a lot of cleaning was required. One of my friends was threatened with the loss of all his deposit because the agengy said the skirting boards were dirty! In this case he was advised to ask for a proof and a copy of the invoice for the work done... they eventually backed down after being asked for the paperwork, guilty as charged.

Although saying that if a house is in a tip and unclean when you leave, the agency do have a right to get a cleaner in at the going rate (they don't have to ask for the cheapest cleaner). But as long as you do your best when you move out you should get most of your deposit back.

If you have any problems contact your local Citizens Advice Bureau.
advertisements

London RentingPowered by UKRenting.comCopyright 2005-2017