Zero Deposit scheme - Any comments / experience
The Zero Deposit scheme - From what I understand tenants pay approx. 1 weeks rent to setup then each tenant pays an annual charge approx. £25 offered by some Letting Agents.
Is this the way forward ? Or just another process to get caught up in?
There is a scheme administered by the TDS can the RLA organise a similar scheme for RLA members with the TDS ? I don't know how viable this is whether it's worthwhile yet on the face of it rather than paying 1 months rent as a deposit new tenants could pay 1 weeks rent making moving home more affordable ?
This is NO substitute for full referencing / vetting ensuring you get the right tenant.
IMO - The custodial deposit schemes / zero deposit scheme, if I understand correctly, if any disputes arise you go to the adjudicator evidence provided.
DPS scheme normally you would have 5 weeks cover where the zero deposit scheme is 6 weeks cover IF you win your case that is after submitting your evidence.
Has anyone any experience with the Zero Deposit schemes ? Thank you.
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