UNDER NEW PROPOSALS going before Cabinet today, all renters will only be required to supply a deposit and a month’s rent when signing a tenancy agreement – and the total value will not be allowed to exceed the value of two months’ rent.
Under the new regulations, which the government plans to have passed into law by the summer, landlords will no longer be allowed to demand multiples of monthly rent amounts upfront.
As far back as 2017, government has been urged to tackle the rules around deposits and upfront payments, with some examples being highlighted over the years of private landlords asking prospective tenants for two months’ deposit as well as the first month’s rent.
So today we’re asking: What’s the largest deposit you’ve been asked to pay while renting?
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