THE PROFESSIONAL ASSOCIATION FOR LANDLORDS
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You’ll probably have to pay a ‘tenancy deposit’ to your landlord or letting agent before you can rent your home. The deposit is usually 1 to 2 months’ rent but it could be more.
If you have an assured shorthold tenancy, your deposit must be ‘protected’ in a tenancy deposit scheme (TDP) until you move out of the property.
The scheme keeps your money safe and makes sure you get back what you’re owed at the end of your tenancy.
Your deposit has to be protected even if someone else paid it for you, for example your parents or a friend.
Your deposit doesn’t have to be protected if you’re a lodger or a student in halls. It also doesn’t have to be protected if you rent privately and have an assured or protected tenancy.