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What is a security deposit?

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Lots of Euro notes which relates to The Land Registry Fee/ Deposit
What is a security deposit?

The security deposit is taken from each tenant before commencement of their tenancy and it is returned at the end of the tenancy provided that there is no outstanding rent, bills or damage to the property which goes beyond normal wear and tear.

It’s is to purpose to protect the landlord in the event of any damage done to the property and it can be used to offset the rent arrears which may arise.

A landlord can deduct from the deposit for numerous reasons. They may wish to cover any outstanding rent unpaid or they may wish to cover the cost of repair of damage to the property. Any damage beyond reasonable wear and tear is the tenant’s responsibility to repair and cover the cost of those repairs.

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