UK Landlord Forum / Life

I'm new to this site and apologist if this question has already been asked

How much should i be asking for as a deposit for a furnished flat ? what is the normal way you calculate this ....

thanks . lough90

You decide upon the Deposit amount. Whether it's reasonable or not you will discover if there are no takers. A rule of thumb in my neck of the woods is around £100 more than the monthly rent amount... if a Tenant has pets I'll agree, up-front, a non-refundable £150 on top of that. In London I'm sure it's different and Deposits can be many, many thousands.

Hey,

Ordinarily it's six weeks deposit.  Hope this helps!

Quote from: Hippogriff on October 16, 2018, 12:59:34 PM
You decide upon the Deposit amount. Whether it's reasonable or not you will discover if there are no takers. A rule of thumb in my neck of the woods is around £100 more than the monthly rent amount... if a Tenant has pets I'll agree, up-front, a non-refundable £150 on top of that. In London I'm sure it's different and Deposits can be many, many thousands.

Hippo an interesting take on the "Pet" fee.

What I do like about this however, is that it is perfect for tenants who get a pet part way through the tenancy, when the landlord really does not want to mess about with second DPS deposits. That would get very confusing.

Even so this topic is one which has hounded me (see what I did there    )

I wonder whether tenants might misinterpret this to assume they have bought £150 worth of pet damage, and should you contest any damage to be covered out of the deposit they may not see it the same way you do. 
What are the advantages of doing things this way rather than just asking for a larger deposit ?

Thanks

I don't reserve it for any potential pet damage, we agree - usually this is before the tenancy commences, mind - that the extra Deposit is reserved for professional cleaning - all to do with future Tenants and allergies etc. - not dirtiness or damage. I then actually do use the money to get that done. It usually doesn't cost £150, but I actually find that Tenants with pets, or plans to get pets, are more fair minded and reasonable because they realise how many Landlords would just say "no" so the £150 'outlay' is well worth it in their eyes.

As of yet I've not had a problem.

A friend of mine was so desperate to find somewhere to rent with her 2 dogs that she agreed to the extra £1,000 demanded by the landlord.This was part of the deposit,none of which was refunded despite leaving the place immaculate.Before the law on deposits came in I should add.

That's right... people with pets are more reasonable likely because they're actually more desperate. Landlords who have a good property won't have shortage of prospective Tenants - so a nice property, a reasonable Landlord (who will accept pets living there), it's all worth that bit extra. I may get bitten (no pun intended) at some point in the future but not so far - the Tenants with pets appear to stay longer (just from my own experience).