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Rent Deposits and Guarantees
In some cases the landlord may be concerned that the tenant may not pay the rents on time or even at all. This may be because the business is a limited company, or is a new business, or cannot provide satisfactory references.
The landlord may ask for additional rent to be paid in advance (a rent deposit). This will be kept by the landlord as security on terms recorded in a Rent Deposit Deed.
In other cases the landlord may ask for a guarantee from another individual. Anyone asked to provide a guarantee should take separate advice about the possible consequences of giving a guarantee.