Deposit Guarantee Service for private tenants
Your tenants can apply for a Deposit Guarantee from us instead of paying a cash deposit, so you can avoid administration fees and other costs
How it works
Your tenants may be able to use our Deposit Guarantee Service in place of a normal cash deposit.
This means you don't have to pay administration fees or other costs of the National Deposit Scheme.
The guarantee covers any damages beyond fair wear and tear that the tenants are responsible for, up to a maximum cost of six weeks' rent.
We'll carry out an inventory of your property and list any items that also need to be covered by the guarantee.
Your tenants will then need to open a savings account with the local Credit Union and make payments into it.
When they've saved enough money, they'll pay it to you as a deposit and our Deposit Guarantee will end.
What you need to do
As a landlord, we ask you to:
- make sure your property meets health and safety standards
- provide copies of your gas, electrical and energy performance certificates
- send us any quotes for claims against the Deposit Guarantee as soon as possible - we can't be responsible for damage we haven't inspected or work we haven't approved
- send us quotes for any work on your property costing over £200 to us before starting the work
If you want to know more about the Deposit Guarantee Service, you can contact us by:
- email at email@example.com
- phone on 01273 292 040