I am planning to let my residential property out. I want to know do I have to take a deposit? Home › Forums › Property Law Forum › I am planning to let my residential property out. I want to know do I have to take a deposit? Tagged: Property This topic has 0 replies, 1 voice, and was last updated 3 years, 8 months ago by lisaslaw@web. Viewing 1 post (of 1 total) Author Posts July 9, 2020 at 3:01 pm #5153 lisaslaw@webKeymaster No – you are not obliged to take a deposit. If you do so, however, then you will have to deal with it in accordance with the tenancy deposit scheme. Otherwise you can suffer penalties. Author Posts Viewing 1 post (of 1 total) You must be logged in to reply to this topic. Log In Username: Password: Keep me signed in Log In