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security deposit
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rh53w
Posts: 2 Newbie
hello,
i'm moving to the UK from new york and am therefore somewhat unfamiliar with my legal rights there, so please excuse me if this question is remedial:
do i have the right to have my security deposit kept in an interest-bearing account? my leasing agent is claiming that my deposit will simply be kept by them and will therefore be dead money for the length of my tenancy. that seems off to me; maybe it's because in the US people have no right to demand an amount in escrow from somebody without keeping that money in an account that bears at least some (usually very low) rate of interest. thanks in advance for any help, either with the answer itself or with a reference to where i can go to find out.
best,
i'm moving to the UK from new york and am therefore somewhat unfamiliar with my legal rights there, so please excuse me if this question is remedial:
do i have the right to have my security deposit kept in an interest-bearing account? my leasing agent is claiming that my deposit will simply be kept by them and will therefore be dead money for the length of my tenancy. that seems off to me; maybe it's because in the US people have no right to demand an amount in escrow from somebody without keeping that money in an account that bears at least some (usually very low) rate of interest. thanks in advance for any help, either with the answer itself or with a reference to where i can go to find out.
best,
0
Comments
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Google 'Tenancy deposit scheme'.
The agent is entitled to keep any interest gained on your money if the tenancy agreement states that you will receive no interest.Well life is harsh, hug me don't reject me.0
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