Setting up the tenancy

A holding deposit reserves the property while the proposed tenancy is being progressed. In England it is generally capped at one week's rent. There are specific rules governing how it is handled and the circumstances in which it must be repaid or may be retained.

For most private tenancies in England, the maximum is five weeks' rent where annual rent is below £50,000 and six weeks where it is £50,000 or more. A landlord cannot simply request a larger security deposit because an applicant presents greater perceived risk.

For a tenancy to which the statutory deposit rules apply, the deposit must be protected in a government-approved tenancy deposit scheme and the required information provided within the applicable deadline. Failure can have financial and possession-related consequences. Ashtons organises all of this on your behalf if we act as managing agent. If not, you will need to set up your own scheme, although this is not always as simple as it may seem.

Ashtons is registered both with the Tenancy Deposit Scheme (TDS) and The Deposit Protection Service (DPS). Currently, we have over £500 million protected within these schemes.

Since 1 May 2026, new assured private tenancies in England are generally assured periodic tenancies. They run on a rolling basis rather than having a fixed end date. The written agreement should accurately record the rent and other key terms and comply with the new tenancy regime. Our agreements are written in accordance with current law and include additional clauses inserted by our company lawyers and Propertymark, our governing body. These are intended to give landlords extra protection and clarity.

No. From 1 May 2026, assured tenancies in the private rented sector are periodic and cannot have a binding fixed end date. Existing ASTs also converted to assured periodic tenancies on that date.

The precise requirements depend on the tenancy, but commonly include prescribed tenancy information, deposit information, EPC, gas safety documentation where applicable and other statutory material. The 2026 reforms also introduced written information requirements for assured periodic tenancies.

A detailed inventory and schedule of condition record the property at the start of the tenancy, ideally supported by dated photographs. It protects both parties and provides the evidence needed to distinguish damage from pre-existing condition or fair wear and tear at check-out.

It should be handed over clean and in a condition you would reasonably expect it to be returned in, allowing for fair wear and tear. Professional cleaning is not compulsory simply as a label; what matters is having a clear and well-recorded standard at the start.

Under the post-May 2026 rules, rent cannot be required before the tenancy agreement has been signed. Once the agreement is in place, rent should be collected in accordance with the lawful payment terms set out for the tenancy.