Rent and legal insurance if taken do I need to take a deposit?
I as a rule take your legal and rent insurance once my potential tenants pass your refferencing check. However I also take a deposit of 1 or 1.5 months rent. It occurs to me that if I am insuring that rent and legal cost are covered why do I need a deposit?
If I do not need to take a deposit, can I offer a tenant, No deposit if they Pay the insurance cost with a 1 year or longer lease rather than 6 months? This massively reduces the I tail cost of renting yet guarantees income for the landlord,
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