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Bond & Deposits
I rang 'rent wise' today, they are sending form to me, it takes 3 weeks to process and get my references and the LL has been reasonable to let us move on our agreed date in 2 weeks, how do bonds work though as they've requested deposit of £250?
Comments
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Has it been made clear to you whether this is a "holding deposit" or a "tenancy deposit/bond?
If you are on a low income you may qualify for help from your local Council in the form of a "deposit guarantee"
If it is a tenancy deposit then you can read up here about deposit schemes (assuming you are in Eng/Wales). Make sure that you get a receipt that clearly states the date, who received it and what the deposit covers.0 -
mumonabudget wrote: »Please can you advise how bonds work with private landlords, we are claiming LHA?
I rang 'rent wise' today, they are sending form to me, it takes 3 weeks to process and get my references and the LL has been reasonable to let us move on our agreed date in 2 weeks, how do bonds work though as they've requested deposit of £250?
Sounds like a holding rather than damage deposit £250 seems very low. Pay by traceable means not cash (e.g. Cheque - BACS with a reference saying deposit in it etc)... check out TDS (tenancy deposit schemes)
If you sign an AST you are responsible for the rent on the due date REGARDLESS of when/if your LHA turns up, it's not the LLs problem if it's late so make sure you understand exactly what you have agreed to.0 -
mumonabudget wrote: »Please can you advise how bonds work with private landlords, we are claiming LHA?
I rang 'rent wise' today, they are sending form to me, it takes 3 weeks to process and get my references and the LL has been reasonable to let us move on our agreed date in 2 weeks, how do bonds work though as they've requested deposit of £250?
Sounds like a holding rather than damage deposit £250 seems very low. Pay by traceable means not cash (e.g. Cheque - BACS with a reference saying deposit in it etc)... check out TDS (tenancy deposit schemes)
If you sign an AST you are responsible for the rent on the due date REGARDLESS of when/if your LHA turns up, it's not the LLs problem if it's late so make sure you understand exactly what you have agreed to.0
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