Damage deposit
A damage deposit or deposit is a sum of money paid in relation to a rented item to ensure it is returned in good condition. They are particularly common in relation to rented accommodation, where they may also be referred to as a tenancy deposit, bond deposit,[1] or bond.
The
repairing
that damage may be charged against the deposit, and part (or none) of the deposit will be returned.
In some
tenancy deposit scheme, under the terms of the Housing Act 2004
.
See also
References
- ^ "What is Bond Cleaning?". September 2015.
- ^ "RTBA". Archived from the original on 25 July 2008.
- ^ "About us". Residential Tenancies Authority.
- ^ "Tenancy bond information". Tenancy Services.
External links
- Information on tenancy deposits from Shelter (UK)
- Tenants' Rights: Security Deposits (USA) from the Connecticut Network for Legal Aid
- Tenants' information guide on deposits (UK) aimed at students, but useful for most types of tenants.
- Tenancy Deposit Scheme for Regulated Agents (UK) - a scheme aiming to aid fairness in tenancy deposits.