Deposit Handling Clause Samples

Deposit Handling. 3.5.1 The landlord may wish to opt out of requiring a deposit. By default, Front Row Lettings will collect 1 months rent for the deposit before the start of the lease. The Landlord may also wish to change the amount collected for the deposit so long as they instruct Front Row Lettings of the amount in writing and it is no more than two months rent. 3.5.2 The deposit will be transferred to a government approved scheme within 14-days of the receipt of the payment from the tenant. Front Row Lettings will use Safety Deposit Scotland. 3.5.3 If the Landlord has chosen the tenant finding only service then the deposit will be transferred to the Landlord for them to handle the deposit in accordance with their legal obligations. 3.5.4 The government approved deposit scheme will hold the deposit until the end of the tenancy. 3.5.5 At the termination of the tenancy Front Row Lettings will resolve the deposit repayment in a fair manner to the best of their ability.