are there alternatives to taking deposits?
I have a lady who will be claiming LHA that is interested in my property. The monthly rent is £595 and I have advertised a deposit of £700, however because she will be claiming LHA she will be paid 4 weeks in arrears, therefore can not afford the full amount upfront only £825.
Once credit checks have been carried out and come back satisfactory, I am happy to take a reduced amount at the begginning so she can move in, however I was wondering what to do in regards to rent and deposit?
Should I take £595 rent in advance and £230 deposit?
£685 (5 wks rent) as deposit and £140 towards rent and then agree slightly more on the monthly rent, until she is one months in advance?
Once you have taken a deposit and held it within a scheme can you increase it over time?
Any help/ suggestions would be much appreciated.
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.