Deposits vary by property and your deposit is placed into a deposit protection scheme, where it is held safely throughout the academic year and will be returned to you at the end of your contract subject to the contract terms. For the deposit amount, please see the room page contracts section, under the tenancy price.
The deposit you pay when making the application cannot be used towards a rent instalment as this is secured with a deposit protection scheme for the duration of your tenancy.
Your deposit will be returned to you after your tenancy agreement has ended and your room has been inspected. The amount returned to you will depend on any outstanding charges and any damage found in your room or the communal areas of your apartment. Please see your tenancy agreement for more information. The deposit can take up to 28 working days to be credited at the end of your tenancy period.
All deposits are secured with a deposit protection scheme, such as the Tenancy Deposit Scheme or Safe Deposits Scotland. You will be contacted by the deposit protection scheme and asked to authorise the refund and submit your bank details to them. For this you will require your deposit repayment ID, which will have been sent to you via email at the time of registering your deposit.
Please be aware, the deposit refund process is managed by the deposit protection scheme and is not able to be influenced by Prestige Student Living. Should you have any queries regarding your deposit repayment ID, you should contact the deposit protection scheme directly:
Tenancy Deposit Scheme or
Safe Deposits Scotland.
Please note if you ask for your deposit to be repaid to a non-UK bank account, bank charges will apply. Please see deposit protection scheme FAQs: