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Question

Start of a Tenancy (Wales) | Tenancy Agreements (Wales) | Wales

When to take the bond/deposit.

25 Nov 2021 | 1 comment

REF: Bond/Deposit taken at the beginning of the tenancy and returned at the end of the tenancy possibly with various deductions. Usually about equal to a months rent.

My letting agent signs AST contracts with groups of students and waits for them to pay their bonds at some point after that. The contracts are signed electronically and the bonds paid days later. I used to sign the contracts on paper and the bonds were paid as the contracts were signed.  I’m not happy that the tenants may not pay their bond to the agents and I’m not sure even if there is a way to make them pay this bond after they’ve signed a contract. How to get around this please?  Can a contract include a clause that says ” if the bond is not paid on the due date then the first rent payment will be set aside as the bond and the tenant will then be in arrears?”.

 

Answer

1 Comment

  1. guildy

    Our tenancy does contain a term that the tenancy starting is subject to payments being made although we’re not entirely sure it’s needed.

    The tenancy will say a deposit is payable and as such, we can’t see any reason why keys can’t be withheld until deposits have been paid (plus rent).

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