Tenancy Deposits Sample Clauses

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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. 5.12.1 You are required to protect security deposits for all AST with a government authorised tenancy deposit protection scheme within 30 days of receipt. Failure to do so may result in You being: 5.12.1.1 prevented from recovering possession of the Property; and 5.12.1.2 ordered to repay the deposit to the Tenant or into a tenancy deposit scheme and pay a fine of up to three times the deposit amount. 5.12.2 We are a member of the The Tenancy Deposit (TDS) Scheme. 5.12.3 The Tenancy Deposit (TDS) Scheme. is administered by: The Dispute Service Limited, ▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇, Phone: ▇▇▇▇ ▇▇▇ ▇▇▇▇, Web: ▇▇▇.▇▇▇.▇▇.▇▇▇, Email: ▇▇▇▇▇▇▇▇@▇▇▇.▇▇.▇▇▇ 5.12.4 Where you instruct us to hold the security deposit for an AST, We will hold it as stakeholder and in accordance with the terms of the Tenancy Deposit (TDS) Scheme. Further details of the Tenancy Deposit Scheme can be found at ▇▇▇.▇▇▇.▇▇.▇▇▇. Where we provide a Fully Managed or Rent Collection Service, We will always hold the security deposit. You agree to pay Us the annual Deposit Registration Fee as set out on page 1. 5.12.5 Where you hold the security deposit, you must comply with the tenancy deposit legislation (including protecting the security deposit and providing the Tenant with the prescribed information). The Agent will only transfer the deposit to you or your scheme once you have provided the Agent with the certificate. 5.12.6 At the end of the tenancy, You and the Tenant should jointly agree the apportionment of any deductions from the security deposit. e.g. for costs or compensation for damage, or for breaches of or failure to comply with the Tenant's obligations. No deduction can be made from the deposit without the written consent of both You and the Tenant. 5.12.7 Where an agreement regarding how the security deposit should be apportioned is reached, the parties must notify Us in writing. Where we are holding the security deposit, we will keep any amounts agreed as deductions where expenditure has been incurred on Your behalf and repay the balance of the security deposit to the Tenant within 10 calendar days. 5.12.8 In the event of a dispute, the deposit holder must remit the disputed amount to The Tenancy Deposit (TDS) Scheme. Failure to do so will result in The Tenancy Deposit Scheme taking action to recover the deposit and discipline the deposit holder. You agree to pay Us the Dispute Fee of £120 inclusive of vat where We are required to submit a security deposit to The ...
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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. 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 
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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 Lessee, simultaneously with the execution of this Lease, has deposited with Lessor as a Security Deposit the sum shown therefor in Summary paragraph G of this Lease. Said Security Deposit shall be held by Lessor. Said Security Deposit may be commingled with other funds of Lessor, and Lessor shall have no liability for the accrual or payment of any interest thereon. If at any time during the term of this Lease any of the rent herein reserved shall be overdue and unpaid, or any other sum payable by Lessee to Lessor hereunder shall be overdue and unpaid, then Lessor may, at the option of Lessor, appropriate and apply all or any portion of said Security Deposit to the payment of any such overdue rent or other sum. In the event of the failure of Lessee to keep and perform any of the terms, covenants and conditions of this Lease to be kept and performed by Lessee, then Lessor, at its option, may appropriate and apply said Security Deposit, or so much thereof as Lessor may deem necessary, to compensate Lessor for all loss or damage sustained or suffered by Lessor due to such default or failure on the part of Lessee. Should the entire Security Deposit, or any portion thereof, be appropriated and applied by Lessor for the payment of overdue Fixed Annual Rent or additional rent or other sums due and payable by Lessee hereunder, then Lessee shall, upon the demand of Lessor, forthwith remit to Lessor a sufficient amount in cash to restore said security to the original sum deposited, and Lessee’s failure to do so within ten (10) days after receipt of such demand shall constitute a default of this Lease. Should Lessee comply with all of said terms, covenants and conditions and promptly pay all of the Fixed Annual Rent and additional rent herein provided for as it falls due, and all other sums payable by Lessee to Lessor hereunder, the said Security Deposit shall be returned in full to Lessee within ten (10) days of the end of the term of this Lease, or upon the earlier termination hereof. Lessor may deliver the Security Deposit to the purchaser of Lessor’s interest in the Premises, providing notice of same to Lessee in writing, in the event that such interest be sold, and thereupon Lessor shall be discharged from any further liability with respect to such Security Deposit. No mortgagee acquiring title to the Premises by foreclosure or deed in lien of foreclosure shall be responsible for the return of any Security Deposit not received by it.