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Tips needed to raise money for rental deposit
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You may want to check that the LA is signed up to a code of conduct via ARLA, NALS, NAEA etc and get written confirmation that they will be keeping your advance rent in a dedicated client account - LAs are currently unregulated , do not have to have any experience, qualification or training to set up in business and they are just as likely as anyone else to go under in the current financial market.Hi, Yeah I considered all that and specifically asked the LA what happens if the landlord goes bust - they told me they keep hold of the 6 months rent and just pay the landlord one month at a time. ..
It's not about being "above board" - few are totally immune to job losses and outside financial pressures, and the length of time someone has been operating as a LL is no guarantee either - look at the firms who have been operating for 15-20 years who have been going under.Also, the landlord has let this house for a minimum of 4 years so I would've thought he'd be above board otherwise something would've happened by now surely?0
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