Can I ask for breakdown of security deposit

Wail

I am aware that I may be required to put down a significant security deposit for the property that I am hoping to pick up in the next few days.

Can I request a break down of the security deposit (for example, credit checks, admin/legal, part of the deposit) and is it likely to be provided to me when asked?

In addition, should I expect a receipt and some copy of the Tenancy Agreement when a security deposit is handed over.

I have read about the possibility of a Section 21 being put into the contract. Will it be named Section 21 if it is in the contract and legally binding. For example Under Section 21 of the Housing Act... or do I have to really hunt for it?

G_M

Are you asking about the admin fee/reservation fee/holding deposit or similar often demanded by agents BEFORE a tenancy is offered? It is typically used to cover credit check costs on you, to guarantee the property is removed from the market and held for you, to cover agents overheads (though these should be paid by the landlord) etc. If the LL changes his mind and decides not to rent - it should be returned but read the terms/conditions carefully!

If so, yes, insist on knowing what it is for, whether it is refundable, and in what circumstances. Get a receipt.

If you asking about a security deposit for the duration of the tenancy, sometimes called a bond, this should not be paid till the tenancy is agreed and is signed. It remains your money, to be held till the tenancy ends, and is then returned unles... it is basically held against any damage you may cause and leave, or any debts (eg rent) owed at the end of the tenancy.

By law it must be registered (if in Eng /Wales) in one of 3 schemes within 14 days of receipt by the landlord/agent.

Get a receipt.

dacouch

Don't give this man any money... http://www.bbc.co.uk/blogs/watchdog/2012/04/brendan_kiely.html

Yorkie1

A section 21 notice, if included in the contract, will usually be found at the back and will be obvious.

You should also be aware, however, that if it is included in the contract - or given to you before a) your deposit has been protected and b) you have been the prescribed information about the deposit - then it is invalid and cannot be relied upon by the LL / LA. A new s.21 would have to be signed after a) and b) have occurred.