Moving out: the deposit era
Lesson 2 of 12 in our free Life Events guide: a 5-minute money game with the key points below.
Shown for England. Some rules here are different in Scotland, Wales and Northern Ireland: the lesson shows your nation's version.
This lesson is in the full version.
Free with a code from your uni, college, council, landlord or employer (worth £600/year). Lesson 1 of Life Events is free for everyone.
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Questions you'll answer
Rent is £650 a month. What's the maximum deposit in England (5 weeks' rent)? Hint: monthly × 12 ÷ 52 = weekly.
Your landlord takes your deposit. What should happen within 30 days?
Quick facts
- Tenancy deposit → One-off. Paid once, and you should get it back at the end if there's no damage or unpaid rent.
- Energy bills → Monthly. Ongoing. Take a meter reading on move-in day!
- Van hire for move day → One-off. One-off chaos.
- Broadband → Monthly. Monthly — check the contract length before signing.
- Basic kitchen kit (pans, plates, a mop) → One-off. One-off. Second-hand and family hand-me-downs are elite.