This is charged as security against damage to the property or getting into rent arrears. It should be returned to you at the end of your tenancy if you have not breached your tenancy agreement.
SunnyBay Lettings requires six weeks' rent as a security deposit and it will be held in one of three government-approved deposit protection schemes.
As of 6 April 2007, a Security Deposit for an assured shorthold tenancy must be held in one of the three government-approved schemes. SunnyBay will provide you with the details of the scheme and the payment confirmation on receipt of your Security Deposit.
You should agree with the agent what condition the property is in when you start renting it, including a list of the furniture and fittings (known as the inventory). This should help stop any disagreements at the end of the tenancy.
SunnyBay organises an inventory to be taken before you take possession of the property and again on leaving the property. The inventory provides a description of the condition of the property including fittings and any furniture. You are to review the inventory carefully and agree to the condition of the property as this document is used to determine whether your security deposit is returned in full.