Increasing tenants security deposit

Landlord Discussion Legal
1

We recently increased the tenants rent and they have now got a pet without asking. Whilst this was against the agreement we dont mins the peys staying but would like to increase the securit deposit to cover any potential damage.

Does anyone know if it is possible to increase the secruity deposit to match the increased rent?

Current securit deposit is £500 but now rent has increaed 5 weeks would be £640. Can we request this from the tenant.

TIA

2

Yes, you should be ok doing this.

3

Did you increase rent before they had a pet? I would be increasing the rent to compensate for the pet, never mind the pitiful bond that’s allowed.

3 Likes
4

Yeah we increased the rent a few months ago as it hadnt been increased in 5 year’s. So ca t increase for a while