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Why do you take a deposit?

Why do you take a deposit?

A deposit is taken at the beginning of tenancy to protect the space owner against any missed rental payments and to cover the cost of any access equipment such as a permit or electric access fob. This includes the loss of equipment, damage to the equipment, or cost to replace the equipment if you fail to return the equipment safely to the Space Owner within 48 hours of the tenancy ending.

The deposit is also used to take any final pro-rated rental payments at the end of your tenancy. 

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