tenantbonds.com - is it legit?

jhomayne

Hello all.

Longtime lurker, first time poster here.

Had a quick search and couldn't find anything about this so...

Just wondering if the service offered by tenantbonds.com is legit? Has anyone used their services before?

We're moving to London soon and, obviously, using tenantbonds would be preferable to finding the money for a deposit!

Most grateful for any help.

kmmr

Don't know if it is legit, but it looks like it is the choice of the landlord not the tenant if they choose to use it. So would very much limit the flats available for you to consider.

I suppose you can ask the LL if they will consider it, but if it is in an area of high demand you may find they will just go with someone else who has a deposit.

jhomayne

You raise a good point! (One that I was hoping no one would make.. heh.)

I guess it's just a matter of asking the LL/LA whether they'll accept it and moving from there. I guess they'd only accept it if it was legit anyway.

<sebb>

Even if it is legit, and I'm not so sure, it just looks like a really expensive loan/insurance contract!

£150 per annum non refundable for a £1000 bond and you are still liable for any damages that would normally be deducted from the bond anyway.

I'd rather just find the deposit if it was me.

dacouch

If there is a claim they have a £350 admin fee payable by the tenant to cover their admin in chasing you up

jhomayne

Thank you all for the delving and tips!

Think I shall get the deposit together instead.;)

brookrachel

Hello everyone,

I was just actually reading through about TenantBonds.com and found surprisingly odd information, as I have used their service last year when I moved to one of the properties, and actually going to use them again whilst find suitable property.

I have realised that people think landlord or agents are not going to accept it?-My answer is they are going to accept it, due to the fact that the money changes hand! I did not have any problems, and did not even mention to my previous agent that they are paying my deposit, once I paid holding deposit to the agents, I called up Tenant Bonds (now I think they implemented online application) gave the details of my property and agents, and they sorted out things directly with them, whilst there was no involvement with myself, I just forwarded my references to them and aplication form, and then the required 25% and they paid the deposit to the agents for me and there was no issues!!!

Even at the end of the tenancy once agents arrived to do the inventor yand to check the flat all was fine, and no deposit was deducted from us and we didn't have to pay a penny!!

Just to clarify with all of you guys, well I am experienced with them and I did not see any problems or issues, and what I also now know that a lot and I mean A LOT of tenants use their services and most agents/landlords know them well!!!

So hope this was helpful!!!!!

dacouch

Que response from Brookrachel who has not been logged on since 07/07/11

DVardysShadow

dacouch wrote: »

Que response from Brookrachel who has not been logged on since 07/07/11

The smell of stale processed pork