When you rent a property, you will usually have to pay a security deposit. A deposit is normally the equivalent of one month's rent and is held by the landlord as security to cover any rent arrears or damage beyond normal wear and tear at the end of the tenancy.

Don't hand over a deposit to your prospective landlord or agent until you are certain that you are going to rent the property and are happy with the condition of the property and the terms and conditions of the letting. Avoid paying in cash and always get a receipt.

Your landlord must provide you with an inventory at the beginning of the tenancy and Threshold advises you make a note of any existing damage or wear and tear. You should take photographs to record this.

If you are dealing with a letting agent, before you hand over a deposit, check that they are a member of a reputable association such as the The Society of Chartered Surveyors of Ireland or Institute of Professional Auctioneers and Valuers

If you pay a booking deposit to secure a property and then decide not to move in you risk loosing all or part of the deposit.

You should only pay the deposit directly to the landlord or their agent and not to the person leaving the property or to another tenant as it is this person you will have to pursue if you have difficulty in getting back the deposit.

What to do

• Read our Avoid getting scammed guide