Deposit calculator
How much deposit can I take?
Find out by using our deposit calculator*
How to use our rent calculator for deposits
Working out the exact tenancy deposit you can legally charge does not have to be complicated. Enter your annual rent into our free rent calculator below, and we will instantly show you the maximum deposit you are allowed to take.
Understanding the UK deposit cap rules
The law places a strict limit on how much money a landlord or letting agent can request as a security deposit. Whether you use an insured deposit scheme or a custodial deposit scheme, you must follow these legal limits.
The five week and six week rent caps explained
The maximum total deposit you can take from a tenant depends on the total annual rent for the property:
- Five weeks’ rent: This applies where the annual rent is under £50,000.
- Six weeks’ rent: This applies where the annual rent is £50,000 or more.
If you charge a deposit that exceeds these limits, you could face financial penalties and, where relevant under the law in force at the time, may also lose the ability to rely on the no-fault possession route until the excess is refunded.
What the Tenant Fees Act 2019 means for you
The deposit cap applies to nearly all private tenancies in England. If you create a new fixed-term tenancy or renew an existing tenancy, you must comply with the five or six-week deposit limit.
If you hold a deposit taken before 1 June 2019 that exceeds the cap, you do not need to refund the excess immediately if the tenancy rolls into a statutory periodic tenancy. However, as soon as you sign a new fixed-term agreement, you must refund any deposit amount that sits above the legal limit.
The table below shows what action is required by landlords or agents at each stage of the Act.
- New fixed term tenancy
- Renewal tenancy
- New fixed term tenancy
- Renewal tenancy
- Statutory/contractual periodic
- Statutory/contractual periodic
Frequently asked questions
How do you calculate five weeks’ rent for a deposit?
To work out five weeks’ rent manually, multiply the monthly rent by 12 to get the annual rent. Divide that figure by 52 to get the weekly rent, and then multiply it by five. Alternatively, simply type your annual rent into our rent calculator above for an instant result.
Does the deposit cap apply to all tenancies?
The cap applies to most private residential tenancies in England where the Tenant Fees Act 2019 applies. It does not generally apply to company lets and certain other non-assured arrangements.
What happens if I take too much deposit?
If you take a deposit that is higher than the legal cap, you are breaching the Tenant Fees Act. Trading Standards can issue a financial penalty of up to £5,000 for a first offence. In addition, where applicable, you may be unable to use the no-fault possession route unless and until the prohibited amount has been repaid.
Do I need to refund a deposit if it is over the cap?
If the deposit was taken before the cap was introduced and the tenancy has simply rolled into a periodic contract, you do not need to refund the excess straight away. However, if you agree to a new fixed-term tenancy, you must return any amount that goes over the five or six-week limit.
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