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Zero Deposit scheme - Any comments / experience

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PJ
PJ
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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.

01/06/2019 18:42

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