Is it normal for the tenancy deposit to be increased each year in line with rent increase?
We have lived in the house for 8 years, initially we paid £950 deposit and rent was £950pm paid through a letting agent. Each year the rent would be reviewed and sometimes increased.
Last year our landlord changed letting agents and the new agent has just sent through the new contract. The new rental figure is £1150pm and the agent wants us to pay £200 to bring the deposit up to the same level as the rent. The previous agent never once asked us to increase the deposit so I’m wondering if this is normal to increase the deposit?