Deposit part return when renewing my tenancy?

npsgen

I am coming to the end of a 12 month tenancy at a property. The tenancy ends 1st July 2019, but i am hopeful of renewing the tenancy for another 12 months.

When I moved in there were no rules (that i know of) to cover the deposit amount and i ended up giving close to 2 months rent as a deposit, plus the first rent amount (I pay monthly). Now there is a law about maximum deposit (5 weeks) starting 1st June with the tenant fees bill.

If me and the landlord agree to renew the tenancy, does the deposit just remain as is? Can I request the difference back? Does it matter what the new rent price may be? i.e.

Initial rent = £500 a month, Initial deposit = £1000
New rent price = £550 a month, as per bill, max deposit = [(550x12)/52]x5=£634.62
Max deposit if using initial rent price = [(500x12)/52]x5=£576.92

So can I request (or is it legally required) that I receive back either (1000-634.62)=£365.38 or (1000-576.92)=£423.08 Can anyone point to any document or the part of the bill that would cover this (on the chance the landlord is not so forthcoming).

I'm hoping that the new 12 months letting could be my last as I am close to getting a decent deposit together, but I have a LISA so receiving this money now to get the 25% bonus and the 1% interest for 12 months will make all the difference to me :eek:!

System

As the new tenancy will be commencing after the 1st June they should only hold 5 weeks rent as the deposit, this will be at agreed contracted rent.

npsgen

Thanks for the quick message Simonr66, its the 'should' part that worries me a little if there is a part of the document that firms this. i.e. 'for the duration of the tenancy, the landlord shall only hold a maximum deposit of 5 weeks...' etc

System

There will be a 12 month grace period so any payments such as deposit and fees that are in current contracts can still be charged till 2020 if tenancy expires after June 1st.


The legislation only applies to new tenancies from 1st June which of course a renewal is. When you come to sign the new agreement ask the agent/landlord for the extra week back. The legislation is quite specific for ant tenancies under 50k per annum a deposit is set at 5 weeks maximum and 6 weeks maximum for rents over 50k pa