Common use of Tenancy Deposit Clause in Contracts

Tenancy Deposit. 5.1 The Deposit of £[ ] is paid by the Tenant to the Landlord/Agent 5.2 The Deposit is held by: 5.2.1 The Agent/Landlord as Stakeholder. 5.2.2 The Agent is a member of a government authorised tenancy deposit schemes. 5.2.3 Any interest earned will belong to the Agent/Landlord. 5.3 The Deposit has been taken for the following purposes: 5.3.1 Any damage, or compensation for damage, to the Property its Contents or for missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the commencement of the tenancy, insured risks and repairs that are the responsibility of the Landlord. 5.3.2 The reasonable costs incurred in compensating the Landlord for, or for rectifying or remedying any major breach by the Tenant of the Tenant’s obligations under the tenancy agreement, including those relating to the cleaning of the Property, its Contents. 5.3.3 Any rent or other money due or payable by the Tenant under the tenancy agreement of which the Tenant has been made aware and which remains unpaid after the end of the tenancy. 5.4 The Deposit is safeguarded by mydeposits, which is administered by: 5.5 The Agent/Landlord must tell the Tenant within 30 days of the end of the tenancy if they propose to make any deductions from the Deposit. 5.6 If there is no dispute the Landlord will keep or repay the Deposit, according to the agreed deductions and the conditions of the tenancy agreement. Payment of the Deposit or any balance of it will be made after 30 days of the expiration of this tenancy. 5.7 For the avoidance of doubt the deposit is non-refundable upon a tenant vacating the property prior to expiration of this agreement. 5.8 For the avoidance of doubt the deposit is non-refundable even if the tenant does not take up occupation of the property after having signed this agreement. 5.9 For the avoidance of doubt if the landlord provides consent to a variation of the terms of this agreement in enabling an incoming tenant to replace an existing tenant, then any such costs to be deducted from the deposit (if any) referred to in clause 5.3 above shall be apportioned equally between the tenants from the commencement of the date of this agreement (and not the date in which the incoming tenant took up occupation).

Tenancy Deposit. 5.1 3.1 The Tenant agrees to pay the Landlord the Deposit of £[ ] in cleared funds in advance or upon application for a tenancy. 3.2 In the event the Landlord is paid by holding a deposit from the Tenant relating to a previous tenancy agreement, upon signing this Agreement the Landlord/Agent 5.2 The Deposit is held by: 5.2.1 The Agent/Tenant hereby authorizes the Landlord as Stakeholderto transfer the deposit to this Agreement. 5.2.2 The Agent is a member of a government authorised tenancy deposit schemes. 5.2.3 Any interest earned will belong to the Agent/Landlord. 5.3 3.3 The Deposit has been taken as security for the following purposes: 5.3.1 3.3.1 Any damage, or compensation for damage, damage to the Building (including the Property its Contents and Building Common Parts, their fixtures, and fittings), or for missing items for which the Tenant may be liable, subject to an apportionment or allowance for fair wear and tear, the age and condition of each and any such item at the commencement of the tenancy, insured risks and repairs that are the responsibility of the Landlord.liable under this Agreement; 5.3.2 3.3.2 The reasonable costs incurred in compensating the Landlord for, or for rectifying or remedying any major breach made by the Tenant of the Tenant’s for his/her obligations under the tenancy agreement, including those relating to the cleaning of the Property, its Contents.this Agreement; and 5.3.3 3.3.3 Any rent Rent or other money due or payable by from the Tenant under the tenancy agreement of this Agreement for which the Tenant has been made aware and which remains unpaid after the end of the tenancynotified. 5.4 3.4 The Deposit is safeguarded by mydeposits, which is administered by: 5.5 The Agent/the Deposit Protection Service (“DPS”). Within 30 days of receiving the Deposit the Landlord must tell shall register the Deposit and inform the Tenant of the details as required under the membership rules of the DPS. 3.5 The Landlord will provide within 30 days of the Deposit being received the information required under section 213(5) of the HA 2004 as set out in the Housing (Tenancy Deposits) (Prescribed Information) Order 2007 (SI 2007/797). 3.6 The Landlord agrees that the Deposit shall be held in accordance with the rules of the DPS. 3.7 At the end of the tenancy if they propose Tenancy, the Landlord shall be entitled to make any deductions withhold from the DepositDeposit such proportion of the Deposit in accordance with the charge list detailed in Schedule 1 or as may be reasonably necessary to: 3.7.1 make good any damage to the Building (including the Property and Building Common Parts, their fixtures, and fittings), caused by the Tenant's failure to take reasonable care; 3.7.2 replace any of the contents which may be missing from the Property; and 3.7.3 pay any Rent which remains unpaid. 5.6 If there 3.8 The Landlord and Tenant consent to the use of the Inventory and Schedule 1 as evidence in any dispute arising in connection with the Deposit if the dispute is no dispute the Landlord will keep or repay the Deposit, referred to an adjudicator according to the agreed deductions and DPS. 3.9 In the conditions of event the Tenant signs a new tenancy agreement. Payment of agreement with the Deposit or any balance of it Landlord, the deposit will be made after 30 days of automatically transferred over to the expiration of this tenancy. 5.7 For the avoidance of doubt the deposit is non-refundable upon a tenant vacating the property prior to expiration of this new agreement. 5.8 For the avoidance of doubt the deposit is non-refundable even if the tenant does not take up occupation of the property after having signed this agreement. 5.9 For the avoidance of doubt if the landlord provides consent to a variation of the terms of this agreement in enabling an incoming tenant to replace an existing tenant, then any such costs to be deducted from the deposit (if any) referred to in clause 5.3 above shall be apportioned equally between the tenants from the commencement of the date of this agreement (and not the date in which the incoming tenant took up occupation).