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Tenancy Security Deposits

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JamesR1
JamesR1
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I was under the impression that if you have a security deposit of +5 weeks rent, come 1st June 2020, the difference between the amount held and the 5 weeks cap would have to be returned regardless of a tenancy renewal.

For example: I have a tenancy agreement which is on a rolling month by month tenancy (signed in 2018) The security deposit is equivalent to 2 months rent. Would i need to return the difference to the tenant to ensure the security deposit doesn't exceed the 5 weeks cap?

30/10/2019 17:08

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