Is zero deposit scheme good for landlords?
We pay the rent directly to the landlord in advance. If a tenant fails to comply with the terms of the lease, damages the property, or fails to pay their rent or bills, the landlord may deduct the cost from the deposit to cover this. If the landlord holds the deposit (in an insured scheme), he should repay the deposit within ten days of the tenant’s recovery, if not earlier. At the end of the lease, another meeting will be arranged at the property to arrange deposit insurance billing.
If a tenant leaves the property in the same condition as it was rented out — with no damage, no missing items, and no outstanding rent — the tenant can recover their full deposit.
What is a rental deposit guarantee?
It is also a guarantee against theft or damage to the landlord’s property, its equipment and its contents. The rental deposit guarantee system (or RDG scheme) offers the private landlord a “guarantee” on behalf of the tenant. The rental deposit guarantee is only given for a property that, if it is the right size for your needs and if the rent is considered appropriate for housing benefit purposes near the local housing benefit. The rental deposit insurance system helps people with low incomes rent privately by guaranteeing that the deposit will be paid should a real landlord claim be made.
It is a legal requirement that every landlord who rents a property issues a copy of an energy certificate, a gas certificate for landlords (if there is a gas supply) to the tenant. It is a best practice to have your electrics checked every five years.
