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  • Deposits for security retained by other than the landlord can be held as stakeholder or as agent for the landlord. The latter provides less security for the tenant.  When a third party holds the deposit as agent for the landlord, the agent can only return the deposit on the Landlord's instructions.  However, a third party stakeholder requires the permission of both landlord and tenant to release the deposit leaving less room for conflict or retrospective claims.
Published: 11 November 2013 Last Updated: 17 November 2021