UK Landlord Forum / Life

Good morning!

I let a property for £650 per month, it's currently one agreement covering two tenants.   One tenant is moving out and I have offered the remaining tenant a discount for three months or until they find a new housemate - whichever is sooner.   I'm going to prepare a new agreement for three months, turning into a rolling agreement thereafter, so rent will be: £425, £485, £485 and £650 thereafter.

My question is can I still ask for £650 deposit?  My opinion is that the risk to me is the same, and officially the rent is £650 - I am just being nice because of covid!  My tenant has queried it so i wanted to get a second opinion before I reply.

Thanks for your advice.

I don't like the idea of starting out with a rent of £425 but taking a Deposit of £650... yes, you know you have the intention of raising it, the Tenant knows, everyone agrees on that... but I wonder if the Deposit Protection Scheme systems can handle something like that... at £425 per month the maximum Deposit you could take is £490.38. At £650 per month it's £750.00. Why not simplify your life and deal solely in £650s... but assure the Tenant verbally, or via a Special Condition noted in your AST, about the early reduction?

I don't understand why you're being nice because of Covid... I've only let one property in this timescale... but I had more enquiries for it than I have ever had in normal times... it was like a feeding frenzy.