Is there an annual rental monetary value limit for Tenancy Deposits?

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M
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I recently (after April 2007) let a 4 bed house in Central London thorugh an agency - they informed me that as the annual rental yield exceeded 42,000 a Tenancy Deposit scheme was not legally required. Instead, they would secure a letter of indemnity from the tenants, who were in this case a corporate company.

Were they correct to take this stance?

What if your clients are not corporates - would you (as a landlord) have no chice but to secure the deposit with a tenancy deposit scheme of some kind?

21/09/2009 00:00

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Martin Co
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