1.5 The security deposit
At the start of the tenancy, you will be required to lodge an amount as security against damage and non fair wear and tear damages. This will either be a sum equivalent to six weeks rent or may be one months rent + £100.00.
- This is payable at the same time as the first rental payment on or before the commencement date of the tenancy in the form of cleared funds. Please note that at no time can these monies be used for payment of rent.
- Where car parking is available by means of 'fobs' an additional deposit sum of £50.00 is held as security for the return of the fobs.
- Where it might be agreed that a pet can be kept at the property an additional £100.00 deposit is required against damage the pet may cause.
- The deposit will be held by us and at the end of the tenancy following the inventory check-out (see overleaf) the deposit will be returned to you as soon as is administratively possible, less any deductions agreed between GRML and yourself for missing items or damage not considered to be fair wear and tear.
- We endeavour, where it is administratively possible, to return deposits within 28 days of the end of the tenancy.
- You will be sent a copy of the property managers report and schedule of damages to be deducted from the deposit prior to the deposit being released. If you do not agree with the charges, we ask you to write to us with your counter proposals. Email is acceptable to speed up the process.
The security deposit and inventory check-in & check-out
- In the unlikely event that we cannot agree, the matter will be passed to an arbitrator to determine appropriate charges.
- GRML are a member of the Housing Ombudsman Scheme who arbitrate in these matters. For further information contact www.ihos.org.uk.
- In line with current legislation on Tenancy Deposits please note that we are members of one of Government approved schemes details of which will be detailed in your Tenancy Agreement.
- If there are rent arrears at the time of your check out please note that we deduct any damages from the deposit and take formal action through the courts for unpaid rent.
- Please note that interest is not payable on the security deposit.
- An inventory will be made detailing the condition and contents of the property. This is used to determine any damages which may be charged to your deposit at the end of the tenancy.
- Please note that whilst a degree of 'wear and tear' (deterioration through normal usage) is to be expected, any damage to the property or our contents will be your liability. For the avoidance of doubt this does not include dirt or dust that was not in a property prior to commencement of the tenancy.
- The inventory has to be checked in detail prior to your taking occupation. It should be done before you put any of your furniture or belongings in the property in order to ensure it is a correct record of the condition when you take possession.
- This may be undertaken in one of the following ways: the agent who has let the flat to you will 'check you in' against this inventory, an independent inventory clerk will meet you at the property and 'check you in'.
- If you fail to attend the check-in, a copy of it will be sent to you and you will have 72 hours to notify us of any notations or comments. Thereafter it will be deemed that you are in agreement with inventory clerks findings.
- Whichever system is used in your area, the inventory should be checked room by room and you will be asked to sign a declaration to confirm the contents and their condition. At the end of the tenancy the same process is repeated. Any damage or missing items will be noted. The cost of any missing items or damage not considered to be fair wear and tear will be assessed and upon agreement deducted from your security deposit and any balance returned to you.
- GRML will pay for the preparation of the inventory and the check-in where one applies. The cost of the check-out will be deducted from your deposit.
- You are responsible for the cost of the check-out, your agent can advise you regarding this. The cost varies depending on the size of the property and the extent of furniture and furnishings included. The agent will be able to provide you with a ball-park figure if required.
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