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What is the maximum permitted deposit?

Zenya Allen
Zenya Allen
  • Updated

CFPwinMan will calculate the Maximum Permitted Deposit allowed under the Tenant Fees Act 2019.

This is calculated as 5 weeks rent for tenancies under £50,000 rent per annum, or 6 weeks rent for tenancies equal or above £50,000 rent per annum.

If you are operating version 4.7.1.6, in User Defaults, you can turn off the deposit warning message, as covered below.

This article includes: 

Warning on Deposit Requested

  1. On the Tenancy Information record, the Tenancy Details tab will be displayed
  2. Deposit Requested - When an amount is added, a calculation is made by CFPwinMan
    1. If the Maximum Permitted Deposit calculated is correct, the text will remain black
    2. If the Maximum Permitted Deposit calculated is too much, the text will turn red as a warning

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Warning on raise an invoice

  1. On the Tenancy Information record, the Tenancy Details tab will be displayed
  2. If the Deposit Type is Deposit Held and the total deposit is above the Maximum Permitted Deposit, a warning message will appear on raising the deposit invoice

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Turn off warning messages

 Note

You will need access to User Defaults to edit your default settings. These can be accessed by those who have the correct permissions

In User Defaults, you can stop the warning message about deposit amounts showing the Maximum Permitted Deposit has been exceeded.

  1. Click Defaults on the main toolbar
  2. Click User Defaults on the dropdown menu
  3. Click Preferences
  4. Remove the tick from Show Deposit Amount Warning, located in the centre column

Related articles:

How do I know which deposits I am holding above the permitted amount