How much deposit can I take from a tenant?

Five weeks’ rent where the annual rent is under £50,000, and six weeks’ rent above that.

The cap came in with the Tenant Fees Act and applies to the tenancy deposit. A separate holding deposit is capped at one week’s rent and has its own rules about when it must be returned or put towards the first payment.

Taking more than the cap is not a technicality. The money has to be returned and there are penalties, and you cannot rely on the tenant not knowing.