OpenRent Community

Maximum Tenancy Deposit: the New Rules and How to Calculate 5 Weeks' Rent


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From 1st June, landlords will only be able to take five weeks’ rent as a tenancy deposit. This increases to six weeks for properties whose rent exceeds £50,000 per year. Tenancy Deposit Calculator We have developed a calculator to quickly tell you the maximum tenancy deposit you can collect after the Tenant Fees Act commences…


If you want to “round off” you must round down and not up. If you round up you will be breaking the law as you are charging more than 5 weeks rent (even if it is by 1p).

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Really good point, Clive!


We’ve updated the tool to make sure it always rounds down. Cheers Clive!


If we collected six weeks under the old rules, do we need to return one week now?


Yes if you renew before 1st June 2020. From 1st June 2020, you’d need to make sure any deposits were a maximum of 5 weeks’ rent.



Will OpenRent handle that automatically?


Hi Shaun,

We transfer the deposit to the landlords name as part of Rent Now, so we’re not able to handle this for landlords.

If you’d find it useful, however, we could produce a guide on how to do it and when it needs to be done by?



That would be great - anything to help would be appreciated! I don’t want to run afoul of the law without even knowing it!

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I’m looking for one bed flat for rent in Leicester must except housing benefit could you please let me now thank you so much Susan.


OK Shaun, will get the team to write something up!


Hi Susan, you can search all our properties here: