How much deposit do I need to pay?
10 March 2021
The amount of deposit payable will change depending on the type of property that you are renting. For residential properties you should be prepared to pay between one and two months rent as a deposit. For commercial spaces, including office and retail, the general rule of thumb is that one months rent per year of the lease term is payable, usually with a minium deposit equivalent to three month’s rent. For commercial properties, service charge will often be included in the calculation of the deposit sum. Make sure you clarify deposit requirements with your agent during negotiations.