Lets Process in brief

The Professional Property Management System
Lets Process is a unique management program for landlords, letting agents and local authorities in the UK. For more information please see Lets Process Explained.

Working Hours

Monday - Friday 09:00-17:00
Saturday - Sunday CLOSED

Latest Private Rented Sector News


Can a tenant who can’t afford the deposit be trusted to pay the rent?

Can a tenant who can’t afford the deposit be trusted to pay the rent?

Deposit-free renting is growing increasingly popular, with more providers than ever before now providing tenants with a range of nil deposit schemes, but is a tenant who cannot afford to find the deposit an inspiring applicant for a landlord’s property?

A recent YouGov survey found that 43% of renters would prefer to see tenant deposits scrapped and replaced with deposit protection insurance that pays for any damages to the property at the end of a tenancy, with tenants typically required to pay into the scheme through either a one-off payment, such as a week’s rent, or a monthly fee.

Tom Crosthwaite, head of sales at RentMyHome.co.uk, commented: “Nil deposit schemes are a helpful alternative to a traditional deposit as they provide protection for landlords at the same time as helping tenants who don’t have big reserves in place to pay a month’s rent and six week’s deposit up front.

Click here to continue reading this article

Share this: