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  • FIRST POST
    • gettingtheresometime
    • By gettingtheresometime 12th Jun 17, 9:58 PM
    • 2,482Posts
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    gettingtheresometime
    Business Rental Deposit
    • #1
    • 12th Jun 17, 9:58 PM
    Business Rental Deposit 12th Jun 17 at 9:58 PM
    We're about to sign a new lease for the unit that we run our business from & have been asked for a rental deposit.

    As this is just over £2k, I've been asking if it ringfenced but am just getting told it's held in a non interest bearing account.

    Do businesses have to register the deposit with any scheme (like a residential landlord would have to) ?
    Lloyds OD / Natwest OD / PO CC / Wescott cleared thanks to the 1 debt v 100 day challenge


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Page 1
    • G_M
    • By G_M 12th Jun 17, 10:29 PM
    • 40,145 Posts
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    G_M
    • #2
    • 12th Jun 17, 10:29 PM
    • #2
    • 12th Jun 17, 10:29 PM
    No. Those schemes are for ASTs.

    Not sure you'll get answers here as this is not a business support forum.
    • davidmcn
    • By davidmcn 12th Jun 17, 11:11 PM
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    davidmcn
    • #3
    • 12th Jun 17, 11:11 PM
    • #3
    • 12th Jun 17, 11:11 PM
    I'm not even sure if there are any such schemes for commercial leases, but there's certainly no obligation to use one - the norm is that it remains in the landlord's name. Would be nice to get some interest (and occasionally you do) but for £2k at today's interest rates it's hardly worth arguing about.

    Commercial leasing in general doesn't have any of the consumer protection that residential tenants have - you're all big boys and girls and can negotiate what you think you need (and/or pay for professionals to do so on your behalf, or at least explain to you how bad a deal you're signing up to).
    • gettingtheresometime
    • By gettingtheresometime 12th Jun 17, 11:43 PM
    • 2,482 Posts
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    gettingtheresometime
    • #4
    • 12th Jun 17, 11:43 PM
    • #4
    • 12th Jun 17, 11:43 PM
    It's not so much the interest on the deposit I'm concerned about, it's whether or not it's ringfenced just in case the landlord / management company goes belly up.
    Lloyds OD / Natwest OD / PO CC / Wescott cleared thanks to the 1 debt v 100 day challenge


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