Hi, my tenants have been in my property for 2 years now. When the tenancy started they provided me with a security deposit equivalent to 8 weeks rent. As this has now changed to a max of 5 weeks rent, do I have to repay 3 weeks or does it just apply to new tenancies? Many thanks.
New tenancies only however if you have a renewal of your tenancy then this will need to meet the current standards.
Hi Alex, it’s just as Andrew says.