The same At the start of every rental contract, tenants hand over an agreed sum of money as a rental deposit. The landlord holds on to this money as a guarantee that the property is returned in condition it was leased in and that all bills are paid to date. If you have maintained the property and kept the appropriate receipts and documents, then you can claim back your deposit money when your rental contract ends. Here’s our quick beginner’s guide to understanding rental deposits.

Where Is Your Deposit Held?

The first thing you need to know is where your deposit will be held once you pay it. If you’ve got an assured shorthold tenancy contract, then your deposit will be stored by law under a government-backed protection scheme. If you don’t have an assured shorthold tenancy, it is up to the landlord or letting agency – they can do whatever they want with it. Your landlord doesn’t have to use any scheme, but you can demand it.

How to Maximise Your Chances of Return

Before leaving, it’s recommended that you check your inventory and deep-clean. Clean the carpets, curtains and oven and correct any dents, cracks or blemishes to the place. If the property has a garden, then make sure it is trimmed and tidy. In order to get the best results, you may want to hire a professional cleaning company or use a property inspection app.

What Happens When My Contract Ends?

When your contract ends, you will receive back your deposit with any deductions for damage, unpaid rent or missing items. This amount is usually paid directly in to your bank account within 10 business days. Always make sure that you save receipts of any work carried out by professionals in case any issues arise. There are plenty of tools to help you keep track of important details, such as those from https://inventorybase.co.uk/.

What If I Think the Outcome Is Wrong?

If you’ve had deductions to your original amount that you feel are unfair, you can contest the decision. All of the protected schemes have free dispute resolution services. Your case will be assessed by an independent adjudicator, so you won’t have to contact your landlord. If you are still unhappy with the results, you can visit Citizens Advice or take your own legal action.