I have a property up for let at the moment and the agents I am using to find a tenant are strongly advising me to allow tenants to use the www.zerodeposit.com product rather than the usual process of taking a cash deposit and placing it in one of the government approved schemes. They advise that using this system is legal and will not cause any problems in setting up an Assured Shorthold tenancy/Section 21 Notice/etc. Is this actually the case? I can see the potential attraction to some tenants of only paying one week's rent up front rather than 5 week's rent as a deposit. Has anyone got any experience of using this product?
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