Rental deposit: how much you can ask for and how to collect it
How much deposit is allowed
Caps depend on the country. In England the Tenant Fees Act 2019 limits the tenancy deposit to five weeks’ rent (six weeks if the annual rent is £50,000 or more) and the holding deposit to one week. In Spain it is one month for a home and two for other uses, plus up to two months of additional guarantee. In France it is one month (unfurnished) or two (furnished). Check your local rules before asking.
Deposit calculator (England)
Tenant Fees Act 2019 (England): deposit capped at 5 weeks’ rent (6 weeks when annual rent is £50,000 or more); holding deposit capped at one week. The deposit must be protected in a government-approved scheme within 30 days. Rules differ in Scotland, Wales and other countries.
Protecting and returning it
In England the deposit must be placed in a government-approved scheme within 30 days and the tenant given the prescribed information; it is returned at the end of the tenancy minus agreed deductions. Many other countries require depositing it with a public body or returning it within a fixed period (one month is common).
Collecting it on signing
With iSign you can send the agreement for signature and collect the deposit (and first month) by card on the same screen: the tenant signs, pays and gets the receipt. Prefer to collect later? Create a “deposit” due date in the calendar and request the payment by link.
Deposit, holding deposit and booking fee
A holding deposit or booking fee is paid before signing to take the property off the market and is deducted later; the tenancy deposit is paid on signing and returned at the end.
€4.99/month and 1% per payment: if you don’t collect, you don’t pay. Includes unlimited due dates, unlimited sends and your brand.
Frequently asked questions
Can I ask for more than the cap?
Not in jurisdictions with a statutory cap such as England. Asking for more is unlawful and the excess must be returned.
Can the deposit be used for the last month’s rent?
That is not what it is for: it covers damage and arrears at the end. The tenant should pay the last month and receive the full deposit back if all is in order.
Do I need to give a receipt for the deposit?
Always advisable. If you collect it with iSign, the PDF receipt goes out by itself.
From contract to payment, without chasing anyone
Create the due date, add your client’s email and we request the payment. Once paid, the instalment is marked automatically and you both get the receipt.
Start with iSign Payments →