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No this is not normal. Deposits are normally kept interest free.
Yes you can add that overnight visitors are not permitted.
You can add this clause
But a interest bearing deposit is not normal.
Can I clarify anything for you about this today please?
Just to double check, does this "If there is no Lease renewal, the amount of Interest owed will be returned to the Tenant according to the same terms set forth for the original Security Deposit." mean that I need to pay interest to the subtenant?
Well you need to see what the bit about the original security deposit says.
The renewal says that if interest is earnt, it is paid.
Does that help?
sorry, i am really new to this
the deposit section is like this
The Tenant is responsible for depositing £910 as a Security Deposit with the Sublessor. This Security Deposit is security that the Tenant will comply with all the terms of this sublease. This Security Deposit may not be used to pay the last month’s rent without the Subtenant’s prior written consent.
If there is no Lease renewal, the amount of Interest owed will be returned to the Tenant according to the same terms set forth for the original Security Deposit.
Then no interest is payable if none is earnt
okay, so i don't need to pay interest?
okay, thank you
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