1. What is a Rental Deposit?

In the UK, a rental deposit is typically 5 weeks' rent (or 6 weeks if annual rent is £50,000+). This security deposit is held to cover any damages or unpaid rent at the end of the tenancy.

2. How Does the Calculator Work?

The calculator uses the standard UK rental deposit formula:

Where:

• Weekly Rent — The agreed weekly rental amount in GBP
• 5 — Standard number of weeks for deposit calculation

Explanation: The calculation follows UK Tenant Fees Act 2019 guidelines which cap deposits at 5 weeks' rent for annual rents below £50,000.

3. Importance of Correct Deposit Calculation

Details: Accurate deposit calculation ensures compliance with UK rental laws, helps landlords secure appropriate protection, and prevents overcharging tenants.

4. Using the Calculator

Tips: Enter the weekly rent amount in GBP. The calculator will automatically compute the standard 5-week deposit amount.

5. Frequently Asked Questions (FAQ)

Q1: Is the deposit always 5 weeks' rent?
A: For properties with annual rent under £50,000, yes. For £50,000+, it's capped at 6 weeks' rent.

Q2: Where is my deposit held?
A: In England and Wales, deposits must be held in a government-approved tenancy deposit scheme.

Q3: Can I get my full deposit back?
A: Yes, if there's no damage beyond normal wear and tear and all rent is paid.

Q4: What if my rent is quoted monthly?
A: Convert monthly rent to weekly: (Monthly Rent × 12) ÷ 52

Q5: Are there other permitted charges?
A: Under Tenant Fees Act, only certain charges are permitted beyond rent and deposit.