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Tenancy Deposits Sample Clauses

Tenancy Deposits. 12.1 Deposits A tenancy deposit will be payable by the Tenant prior to or upon signing the tenancy agreement in addition to any rent due. The purpose of the tenancy deposit is to protect the Landlord against loss of rent or damage to the Property during the tenancy itself. The Deposit will be kept in a separate and secure client account ready for refunding (less any charges due) at the end of the tenancy, or forwarded to one of the Government-regulated deposit schemes listed below.
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Tenancy Deposits. 9.1 For Managed Lets (defined at Clause 17.1(a)) deposits taken from the Tenants will be transferred to a scheme in terms of the Tenancy Deposit (Scotland) Regulations 2011 by The Agent. The Agent will hold the deposit until such time as it is transferred to a scheme of The Agent’s choosing. The Agent shall be able to transfer the deposit to a different scheme at their sole discretion. The Landlord will not be entitled to any interest accrued whilst the deposit is held by The Agent. Once the deposit is transferred to a scheme any interest accrued will be taken by the scheme in terms of the said Regulations. 9.2 If The Agent is holding the tenancy deposit or such deposit is held by a registered Tenancy Deposit Scheme and The Landlord wishes it to be transferred to another registered Tenancy Deposit Scheme and The Agent agrees (said agreement will not be unreasonably withheld), The Agent will as soon as practicable thereafter notify The Tenant and The Landlord of the details of said transfer. It is acknowledged that no liability whatsoever will attach to The Agent should he omit to do so. Additional charges for this service will apply at The Agent’s professional hourly rate (as detailed in the Schedule attached). 9.3 For Managed Lets (defined at Clause 17.1(a)) if there is to be retention from the tenancy deposit at the end of the tenancy, and there is agreement between The Landlord and The Tenant, The Agent will apply to the scheme for division and return of the deposit as per the aforementioned agreement. 9.4 For Tenant Find Only lets (defined at Clause 17.1(b)) a deposit taken from The Tenant will be passed to The Landlord to lodge with an approved Tenancy Deposit Scheme. Thereafter, unless otherwise agreed, it will be for The Landlord to apply to the scheme for division and return of the deposit at the end of the tenancy. 9.5 Any deductions to the deposit can only be made in accordance with the deposit clause in the lease and in terms of the Tenancy Deposit (Scotland) Regulations 2011 and the rules of the scheme. 9.6 In the event that a dispute arises between The Landlord and The Tenant with regards to the distribution of the deposit, and the scheme refer the matter to their dispute resolution mechanism, The Agent can act on The Landlord’s behalf. Additional charges for this service will apply at The Agent’s Professional hourly rate (as detailed in the Schedule attached).
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Tenancy Deposits. 9.1 For Managed Lets (defined at Clause 17.1) deposits taken from the Tenants will be dealt with as follows: 9.1.1 For all Scottish properties, funds will be transferred to a scheme in terms of the Tenancy Deposit (Scotland) Regulations 2011 by The Agent. The Agent will hold the deposit until such time as it is transferred to a scheme of The Agent’s choosing. The Agent shall be able to transfer the deposit to a different scheme at their sole discretion. The Landlord will not be entitled to any interest accrued whilst the deposit is held by The Agent. Once the deposit is transferred to a scheme any interest accrued will be taken by the scheme in terms of the said Regulations. 9.1.2 For all English properties, funds will be registered to a scheme in terms of Sections 212 to 215 of, and Schedule 10 to, the Housing Act 2004 (as amended) by the Agent. The Agent will hold the deposit for the duration of the tenancy agreement and register it to a scheme of The Agent’s choosing. The Agent shall be able to transfer the deposit to a different scheme at their sole discretion. The Landlord will not be entitled to any interest accrued whilst the deposit is held by The Agent. 9.2 If The Agent is holding the tenancy deposit or such deposit is held by a registered Tenancy Deposit Scheme and The Landlord wishes it to be transferred to or registered with another approved Tenancy Deposit Scheme in Scotland or England and The Agent agrees (said agreement will not be unreasonably withheld), The Agent will as soon as practicable thereafter notify The Tenant and The Landlord of the details of said transfer. It is acknowledged that no liability whatsoever will attach to The Agent should he omit to do so.
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Tenancy Deposits. 5.1 The deposit will be held in accordance with the terms of the Tenancy Agreement 5.2 If a Tenant pays a deposit in connection with an assured shorthold tenancy (“AST”) the deposit must, from the moment it is received, be dealt with in accordance with a government-authorised tenancy deposit protection scheme 5.3 We are a member of the Tenancy Deposit Scheme, which is a government-authorised tenancy deposit protection scheme, administered by: The Dispute Service Limited West Wing, First Floor, The Maylands Building, 000 Xxxxxxxx Xxxxxx, Xxxxx Xxxxxxxxx, XX0 0XX 5.4 If we receive an AST deposit on your behalf, we will serve the prescribed information and comply with the initial requirements of the Tenancy Deposit Scheme on your behalf, unless you give us prior written instructions to the contrary before we receive the deposit 5.5 If you do not want us to protect the deposit on your behalf, it will be your responsibility to protect it as required by law. A valid notice seeking possession under s21 of the Housing Act 1988 cannot be served on a Tenant whose deposit is not protected. A Tenant or any Relevant Person may apply through the courts for compensation of at least the amount of the deposit, and up to three times the deposit, if the Landlord (or someone acting on the Landlord’s behalf): a) fails to give prescribed information within the Statutory Time Limit; or b) fails to comply with the initial requirements of an authorised scheme within the Statutory Time limit; or c) notifies the Tenant or Relevant Person that the deposit has been protected in a scheme, but the Tenant or 5.6 If you do not give us written instructions that you want to make your own arrangements for deposit protection, we will hold deposits relating to your properties under the terms of the Tenancy Deposit Scheme. We must comply with the rules of the Scheme, and this means that we will not be able to act on your instructions with regard to the deposit if those instructions conflict with the Scheme rules. 5.7 The Scheme rules are available to view and download from xxx.xxxxxxxxxxxxxxxxxxxx.xxx. 5.8 During the tenancy, the deposit will be held by the Tenancy Deposit Scheme Custodial. 5.9 Under this scheme, undisputed deposits must be released to the Tenant within ten days of termination of the tenancy. We take no responsibility for the failure of a deposit being registered where it is held by the Landlord or an alternative appointed agent. 5.10 Where the tenancy is not an AST, the deposi...
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Tenancy Deposits. 11.1 Upon signing the tenancy agreement, the Agent will take a dilapidations deposit from the tenant(s) in addition to any rents due. The purpose of the dilapidations deposit is to protect the Landlord against loss of rent or damage to the Property during the tenancy itself. 11.2 Statutory tenancy Deposit protection Where the tenancy is an assured shorthold tenancy the Landlord or Agent is legally required to ensure that any tenancy deposit taken under the tenancy is protected within one of three statutory tenancy deposit schemes within 14 days of receipt. The schemes are: (1) The Deposit Protection Service (DPS) (2) My Deposits (3) Tenancy Deposit Scheme Currently the Agent uses ‘Tenancy Deposit Scheme’ to register all deposits taken. A G R E E M E N T TERMS OF BUSINESS
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Tenancy Deposits. 10.1) Upon signing the tenancy agreement, the Agency will take a dilapidations deposit from the tenant(s) in addition to any rents due. The purpose of the dilapidations deposit is to protect the Landlord against loss of rent or damage to the Property during the tenancy itself. These deposits will be kept in a separate secure client account ready for refunding (less any charges due) at the end of the tenancy. 10.2) In accordance with Tenancy Deposit Legislation, the deposit will be administered in the appropriate manner. The Agency is a member of My Deposits Protection Service, with whom any deposits collected by the Agency will be registered and protected within 14 days. Should the Landlord wish to protect the deposit, the Agency will require proof that the Landlord is a member of one of the government approved deposit protection schemes. 10.3) The Agency will attempt by negotiation, to resolve any deposit disputes between the Landlord and the Tenant. Where the deposit is subject to statutory tenancy deposit protection, and a dispute cannot be resolved between the parties, it will be necessary to submit the claim to the tenancy deposit administrators for adjudication under an Alternative Dispute Resolution (ADR) process. There will be an additional fee charged for administering the dispute. 10.4) The Landlord authorises the Agency to make appropriate deductions from the rental income in the last two months of the tenancy to provide a maintenance fund from which any cleaning, repair or other costs can be disbursed at the end of the tenancy.
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Tenancy Deposits 
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Related to Tenancy Deposits

  • Utility Deposits Seller shall receive a credit for the amount of deposits, if any, with utility companies that are transferable and that are assigned to Purchaser at the Closing.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one)

  • Security Deposit Tenant has deposited or concurrently herewith is depositing with Landlord the sum set forth in Article 1.F. of the Basic Lease Provisions as security for the full and faithful performance of every provision of this Lease to be performed by Tenant. If Tenant breaches any provision of this Lease, including but not limited to the payment of rent, Landlord may use all or any part of this security deposit for the payment of any rent or any other sums in default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant's default. If any portion of said deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit funds with Landlord in a form acceptable under Section 3(b) above and in an amount sufficient to restore the security deposit to its full amount. Tenant agrees that Landlord shall not be required to keep the security deposit in trust, segregate it or keep it separate from Landlord's general funds, but Landlord may commingle the security deposit with its general funds and Tenant shall not be entitled to interest on such deposit. At the expiration of the Term, and provided there exists no default by Tenant hereunder, the security deposit or any balance thereof shall be returned to Tenant (or, at Landlord's option, to Tenant's "Transferee", as such term is defined in Article 15 below), provided that subsequent to the expiration of this Lease, Landlord may retain from said security deposit (i) an amount reasonably estimated by Landlord to cover potential Direct Cost reconciliation payments due with respect to the calendar year in which this Lease terminates or expires (such amount so retained shall not, in any event, exceed ten percent (10%) of estimated Direct Cost payments due from Tenant for such calendar year through the date of expiration or earlier termination of this Lease and any amounts so retained and not applied to such reconciliation shall be returned to Tenant within thirty (30) days after Landlord's delivery of the Statement for such calendar year), (ii) any and all amounts reasonably estimated by Landlord to cover the anticipated costs to be incurred by Landlord to remove any signage provided to Tenant under this Lease, to remove cabling and other items required to be removed by Tenant under Section 29(b) below and to repair any damage caused by such removal (in which case any excess amount so retained by Landlord shall be returned to Tenant within thirty (30) days after such removal and repair), and (iii) any and all amounts permitted by law or this Article 4. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code and all other provisions of law, now or hereafter in effect, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums specified in this Article 4 above, and all of Landlord's damages under this Lease and California law including, but not limited to, any damages accruing upon termination of this Lease under Section 1951.2 of the California Civil Code and/or those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the acts or omissions of Tenant or any officer, employee, agent, contractor or invitee of Tenant.

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