Good tenancy rebate scheme.

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M
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I have instigated a 'Good tenanacy rebate scheme' it works like this.

Rent was 450/cal mth. Deposit was 450

For all new tenants I have put my rent up to 525 and I no longer require a deposit. My tenancy agreemnt says - 'We do not require a deposit.'

I advise my tenants that the rent is 525 for 6 months which reduces to 450 in the seventh month and beyond.

I also advise them I will pay them 450 (good tennacy rebate) if the leave the flat in good order etc.

Are there any problems re the legality of this. Some tenants have suggested that I am building the deposit into the monthly rent over a six month period... I have no idea what gave them this impression.

Oh... and I advertising 'No desposit required' and rent is nett 450.

Thanks in anticipation

18/02/2008 00:00

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