Can it be paid back before then – i.e. on the last day of the tenancy?
A. Yes. Ten days is the maximum. In practice, Communities and Local Government would like to see deposits returned more quickly and will be working with scheme administrators to see how this can best be achieved. Many landlords currently pay the deposit back on the last day of the tenancy. In the insurance-based scheme, if the landlord and tenant agree on the amount to be returned, the deposit can be returned on the last day of the tenancy.
Related Questions
- If the applicant was referenced at the beginning of the tenancy and paid six months in advance, what should we do when the initial tenancy term comes to an end?
- Can a prospective tenant know how much of the rent is likely to be paid by Housing Benefit before they agree to the tenancy agreement?
- Can it be paid back before then - i.e. on the last day of the tenancy?
