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Why your deposit should stay with you through your renting life

May 26, 2020 1:55 pm

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The stark reality for most people under the age of 30-35 is that they are going to be renting for the rest of their lives. This “Generation rent” is faced with a highly priced house market, a lack of affordable new builds in stock or being built. They also have the problem of schemes, like shared ownership,  hamstringing them by taking a percentage of the property when they come to try and move on.

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Therefore renting seems to be the only option open to them. However, all landlords and or letting agents will demand to have a deposit placed on the property that is being rented. For generation rent it is vital that this deposit as a body of money moves with each rental that the tenant looks to take.

 

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The deposit is dependent on a number of things including how well you keep the property up together and any damage to fixtures and fittings during your tenancy. This is where an inventory check comes in. You and the Landlord agree it and have to ensure that when the tenancy comes to an end, the property, taking into account wear and tear, can be reconciled with it. Try to see this deposit as something that you take with you. It is a rolling amount of money that is an investment for each time you move. You may find the rental place of your dreams and stay for years (which may please the landlord) or you may find that you want to move into owning a property instead in which case your returned deposit will help with any Conveyancing Solicitors Cheltenham fees and you can get an idea of what this might be by contacting companies like https://www.deeandgriffin.co.uk/services/conveyancing/.

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