What is a Tenancy Deposit?

A tenancy deposit is used to cover the cost of damage that might incur during the tenancy. The detailed inventory produced at the beginning of the tenancy is used in conjunction with subsequent inspection reports and will be used to assess whether deductions from the deposit are necessary. Deductions are used to cover the cost of professional cleaning, damage above fair wear and tear, non-payment of rent and any outstanding expenses as detailed in your tenancy agreement.