What are rent deposit deeds?
When a tenant takes out a lease, they pay a deposit to the landlord as security. It is not a legal requirement to draw up a rent deposit deed but it protects both the landlord and the tenant.
The deed sets out the circumstances in which the landlord may deduct money from the deposit such as if the tenant defaults on rent. It can also protect the landlord and the tenant if one of them becomes insolvent or breaches certain terms in the lease, depending upon how it is drafted.
Our commercial conveyancing solicitors can negotiate and draft a rent deposit deeds that protects your interests.