Paying a Security Deposit when tenants move into a new rented property has always been the traditional way for landlords to protect themselves against any dilapidations or damage caused by the tenant when they leave the property.
However, finding the money to pay this deposit can be very difficult for ingoing tenants especially when the paying the first month’s rent and other associated costs with moving home. This can be made much more difficult if the tenant’s previous deposit has yet to be returned.
Our ‘Nil Deposit’ option allows the tenant to move into the property for just ONE WEEKS RENT plus VAT!
However, landlords will still receive the entitlement for any breach of the tenancy agreement up to a maximum of 6 WEEKS RENT – which is actually MORE than the 5 weeks rent cap recently announced by the Government!