What is the difference between the community bond and my home deposit?

  • Your home deposit is to protect against damages for your room as outlined in your tenancy agreement with Lyvly.
  • The deposit from your room is held by the Deposit Protection Scheme, and is specifically there to protect against damage to the room itself or furniture.
  • If you do hold a membership bond with Lyvly, this represents the commitment to the values of the Lyvly community.
  • It is a sum of money you pay towards Lyvly. It is a refundable amount that is repaid when you end your membership and you get back when you leave the community.
  • Your community bond is separate from the home deposit. 
  • Not all of our members do hold a community bond and we do also offer a variety of deposit options

If this doesn't answer your question or if you have other questions that aren't in our help centre, get in touch via members@lyvly.uk