For use in England and Wales only.
A rent deposit deed is a document which sets how a landlord secures a commercial tenant's deposit. This deed sets up as a charging arrangement on the deposit money in the landlord's favour. This means the deposit remains the property of the tenant, but if the tenant defaults on the lease, (eg does not pay the rent) the landlord can take money out of the deposit. It also protects the landlord for losses and expenses, or non-performance of covenants. Use this rent deposit deed to protect your commercial property and to ensure payment if your tenant defaults.