Tenancy agreements and deposits

It makes good sense to have a solid tenancy agreement in place as it highlights the parties rights and responsibilities.

A tenancy agreement is the contract between tenant and landlord. It should clearly explain what is expected of each party and the terms which have been agreed between them and whether commercial or residential or indeed a mixture  of both.

Landlords are legally entitled to request a deposit before letting a residential property to a tenant. The deposit provides security to the landlord but should be returned to the tenant at the end of the lease, providing that the terms set out in the tenancy agreement have been met. Landlords are now legally required to place the deposit in one of three government-backed tenancy deposit schemes.

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