5 tips to keep your flat or house deposit safe

Posted March 3, 2014 by Student Profit Staff

It’s not all about cheap ways to get drunk here at Student Profit, we’ve got some helpful tips too such as this guide on how to keep your tenancy deposit safe.

The deposit when you rent a flat or house, which may also include the University’s own student accommodation and halls, is usually a month’s rent that is kept until the end of your tenancy when – hopefully – you’ll get it back.

Your deposit however can be used by your landlord to pay for (certain) damage or costs you may cause during your stay at the property.

So with that all said here are our top tips to making sure you get your deposit back…

Make a note of every problem when you move in

When you first move in be sure to make a note and get proof of EVERY issue you spot from any damage to damp. Even if it’s a little mark or scrape, know that it’s already there. Take photos of how walls, carpets and furniture (if it’s not your own own) looks and make sure the landlord notes any issues at this time too.

Fulfill your obligations and responsibilities

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Read your tenancy agreement carefully and make sure you know what your responsibilities and obligations are so you can keep your end of the contract. The tenancy will cover things you aren’t allowed to do (e.g. smoking, pets), your responsibilities (e.g. what bills you’re liable for, what insurance you may need) and any other conditions.

Report any issues right away

If you spot any issues get them reported to your landlord ASAP. Regardless of the cause, you may find yourself liable for damage if you delay in making problems known!

Pay your rent on time

It’s not just damage that can cause you to lose your deposit with any unpaid rent also being allowed to be taken out of the amount once you end your tenancy.

Don’t be afraid to enter a dispute

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Finally don’t be afraid to dispute any disagreements over you deposit. Your tenancy deposit protection (TDP) scheme will offer a free dispute resolution service that will independently look into arguments and decide who is in the right.