A dilapidation deposit is payable before the start of any tenancy and is usually equal to a multiple of 1.5 times the monthly rent. The deposit is held by Alexander Greens Property Services and is returned after the property has been vacated, the keys have been returned and an end of tenancy inspection of the property has been carried out by your appointed Property Manager. Any necessary cleaning or repairs/replacements will be charged to the deposit, and will cause a delay in the return of the deposit balance.
Deposits for all Assured Shorthold Tenancies are held in accordance with the Tenancy Deposit Regulations and you will be advised on commencement of which scheme will be used. All schemes are insured and offer an independent arbitration service in case of any unresolved dispute at the end of tenancy.