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A damage deposit (or simply 'deposit') is a sum of money paid in relation to a rented item to ensure it is returned in good condition. They are particularly common in relation to rented accommodation, where they may also be refered to as a tenancy deposit or in some places a bond.

The owner of the item (the landlord in the case of accommodation) will take a sum of money from the person(s) renting the item (the tenant). If the item is returned in good condition at the conclusion of the tenancy the owner should return the deposit; if the item is returned with damage the cost of repairing that damage may be charged against the deposit, and part (or none) of the deposit will be returned.

External links

• Tenants' information guide on deposits from Shelter
• Tenants' information guide on deposits aimed at students, but useful for most types of tenants.
• Tenancy Deposit Scheme for Regulated Agents - a scheme aiming to aid fairness in tenancy deposits.

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