Rent Deposits

In order to give a landlord increased security, tenants are often asked to put down deposits on rent. When the tenant falls into arrears, the landlord can draw those arrears of rent from the deposit. The terms of such deposit are set out in a deed, including terms under which the draw down may be executed and the tenant's obligation to "top up" the rent deposit after such draw down. Often, if the tenant fails to "top up" the rent deposit, he will be in breach of a covenant in respect of which the landlord may have the right to forfeit the lease.

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