A bond or deposit is a sum of money which is held against damage to the property, rent/utility arrears, any essential cleaning, removal of large amounts of rubbish and the cost of replacing any locks or keys if not returned on time. Deductions cannot be made for reasonable wear and tear to the property. Always pay your bond by cheque or credit card and get a receipt showing the amount and what it covers.
Tenancy Deposit Protection (after 6th April 2007)
When you pay your bond this year your landlord or agent must protect it using a government authorised tenancy deposit scheme. Make sure you ask your landlord/agent 'how is my deposit protected'? Within 14 days, the landlord or agent is required to give you various details about how your deposit is protected.
For further information call into the ARC or www.direct.gov.uk/tenancydeposit
Recovery of Bond taken before 6th April 2007
If your bond has not been returned within a reasonable time, you should write to your landlord/agent asking for its return, or reasons why it is being withheld. You should ask that you expect to receive a response within 7 days. If you don't receive your bond or an explanation it may be necessary to take legal action. More information from the ARC or go to the Court Service website www.hmcourts-service.gov.uk for more information.
Inventory
An inventory is a list of all furniture, fittings and other equipment provided by the landlord. At the beginning of the tenancy you will be asked to sign this document. You should ensure that it contains information not only about the contents of the house but the condition of everything in the house. This can be used as evidence in any dispute over damage or cleaning when it is time to get your bond back. Photographs taken at the same time can also be very useful. If you are not provided with an inventory, draw one up yourself, sign it and ask the landlord or agent to also sign it.
