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Requirement of a Security DepositA security deposit is not required by law, but it is legal for a landlord to request that tenants give a security deposit. You can offer the tenancy on the basis that tenants pay a security deposit. They then have the choice to take the tenancy or not.If you collect a security deposit in the form of money, there are detailed rules relating to how the money must be invested and returned to the tenant when he leaves. January 2006 |
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