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FAQ on Tenancy Deposits

What is the tenancy deposit?

What if I cannot afford to pay the deposit?

What is the tenancy deposit scheme?

What are the main features of the custodial scheme?

What are the main features of the insurance based schemes?

What happens if the landlord does not join a tenancy deposit scheme?

How does the free arbitration service work?

Do I have to use the arbitration service provided by the tenancy deposit scheme?

What is ‘fair wear and tear’?

Who gets the interest on the damage deposit?

What are Stakeholders?

Can the tenancy deposit be used as rent ?

What happens if the agent who holds the damage deposit, becomes insolvent ?

Does the landlord need to provide the tenants with receipts for items claimed?

What standard should the property be left in at the end of the tenancy?

What if the landlords claim for damage exceeds the damage deposit?