Yes, we usually hold a deposit equal to one and a half months rental for the term of the tenancy. We hold the deposit as stakeholders which means that at the end of the tenancy the two parties to the tenancy agreement should jointly agree on the apportionment of any deductions for the deposit, e.g. for the costs or compensation for damages, or for breaches of, or failure to comply with, the tenant’s obligations.
Any proportion in dispute should not be paid over by, or taken by, either party until and unless mutual agreement is reached, or unless an appropriate third party makes a decision.
For any individual questions or to discuss your letting needs in more detail please contact us
