AST Renewal: How Much Deposit to Hold?

I am in the process of renewing 2 ASTs shortly. I hold five weeks' worth of deposit for all of my properties. What is the maximum amount of deposit that I can keep for AST renewals? If only one month (as I have read), do I need to return any excess balance for long-standing lets?

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Deposits and Tenancy Deposit Schemes

Understanding the deposit protection requirements can be challenging. Our comprehensive guide simplifies the process and helps you comply with the law.