Rent deposit bond

amcg67

hi there

can anyone give me some info on how the rent deposit bond scheme works?:)

Mind_the_Gap

Yes. Read these two sites' explanations of the subject and come back if you have specific questions we can help you with:

http://england.shelter.org.uk/get_advice/paying_for_a_home/tenancy_deposits/deposit_protection_schemes

http://www.direct.gov.uk/en/homeandcommunity/privaterenting/tenancies/index.htm

BitterAndTwisted

Landlord receives deposit from tenant. Landlord either transfers deposit to one deposit-protection scheme or registers it with other but retains the funds. The retained funds one is an insurance-based scheme and they charge a premium to register. Landlord pays for that. Landlord informs tenant of which of the three schemes they have used within 14 days of the tenancy starting.

amcg67

sorry mind the gap meant to reply - can i ask how long it usually takes to get the bond, lanlord is only going to hold the flat til friday

BitterAndTwisted

Please explain under what circumstances you have handed over this money. It sounds to me like you have paid a "holding deposit" to secure a property until they've carried out references and then drawn up the tenancy agreement, not paid a damage deposit

amcg67

no i havent paid anything yet, i dont have any money, which is why i need the rent deposit bond scheme to help me

amcg67

its a new flat i'm trying to move in to - sorry should ahve said

FTBFun

Is it this sort of thing?

http://www.guildford.gov.uk/article/2734/Rent-deposit-bond-scheme

Might want to check your local authorities' website for the same sort of thing (unless I've struck lucky with your location!)

amcg67

yes its that scheme - i'm in swansea though, i've read the kind of functional stuff about what its for etc but there's not really anything about how it actually works eg how long it takes, how much you can get etc

BitterAndTwisted

If you are a single person who is currently adequately housed you may have trouble qualifying for such a scheme. These are mainly for helping families with children to secure housing where they would not otherwise be able to. Single, working people either need to have savings or a friendly bank-manager.

00ec25

since the bond schemes are mainly operated by each local council, you should ask them whether you will qualify for their help

the phone no for the Swansea Bond Board is shown on the council website which is available via google or click here