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Deposit

Question

Is it normal practice to ask flatmates to provide two months rent up front as a deposit?

I moved into an apartment in December and put two months rent into a holding account as a deposit with our landlord. We also paid our first months rent (a very expensive month).

Now my flatmate is moving out and I need to replace her. She would like her half of this deposit back. I am advertising on Appartager, but was wondering if it was standard practice to ask for such a deposit as well as first months rent (taking into account that it is usually a 6 - 12 month tenancy that people are looking for)?

Any advice would be much appreicated

From the archives

Two months deposit is a legal requirement. The holding account is pretty normal as well. However as you are probably aware both parties, the renter and landlord have to sign to release the money. If your parting co renter signed with the landlord it could be diffiult to get that money released if she has gone. You had better check your bank account contract. If its you only that signed then fine, you should give her the 50% deposit back, it was just that a deposit not rental payment.

Aug 22, 2011 13:41