No deposit rentals

Comms69

Chris_W wrote: »

I dont think thats right - if an agency advertises that zero deposit is available its on the basis thats its the Ts choice once they have passed the referencing and then the T chooses if they want to pay a cash bond or goes with the insurance - the LL will also have to have sign a document ie terms and conditions that explains its not compulsory to a contract offer

Its also my understanding that if the LL or agency insist they take the insurance or they wont offer them the contract this is unlawful not to say it doesn't happen but it is unlawful

I have checked the above with someone who works for zerodeposit.com that I know

You are incorrect, but by all means £5 to a charity of your choice if you can link to such a law

G_M

Chris_W wrote: »

.......if the LL or agency insist they take the insurance or they wont offer them the contract this is unlawful ......


I have checked the above with someone who works for zerodeposit.com that I know

Maybe.But I'll believe that when you link to the Statute or Regulation that makes it law.

until then....... :rotfl:

And I'd not believe a word said by someone with a vested interest - go speak to someone independant - like a property lawyer.

G_M

Chris_W wrote: »

......someone who works for zerodeposit.com that I know

so according to the Tenant section of their website:

When moving out, you pay for any damage or unpaid rent. Any disputes are expertly evaluated by TDS.

:think: so what's the point of the insurance?

There's also an annual fee for the tenant.......

And:

Claims resolved & settled
If found in the landlord's favour, we settle the claim with your landlord and recover the costs from you, along with any debt recovery costs. Non-payment may impact your credit history.

And nothing about your legal right to choose.......

Comms69

G_M wrote: »

so according to the Tenant section of their website:

:think: so what's the point of the insurance?

There's also an annual fee for the tenant.......

And:
And nothing about your legal right to choose.......

And they report to credit agencies?!?!... worrying

[Deleted User]

so tenant doesn't defend claim, has to rely on "insurer" to do so without having any influence on what the "insurer" says.

Then "insurer" claims against tenant, along with fees for doing so.

I know I am of a sceptical nature, but this seems to have the potential to become a moneypit for the tenant. And yearly fees as well - so its not insurance for the tenant at all. Its insurance for the LL, paid for by the tenant really. Like paying someone to prosecute YOU.

Seems very wrong to me.

Lummoxley

https://www.theguardian.com/money/2019/jan/19/could-renting-without-huge-deposits-become-the-norm

Not sure I'm too keen on the idea.

smashton

Landlords avoid!!

Complete scam. Another typical insurance company. Tenants trashed my flat and I had a crime number for criminal damage from police. They agreed to leave after just 4 weeks. When I claimed for the deposit they put all the damage to fair wear and tear. Tenants were aloud to dispute the claim but I’m not. The amount of damage after just 4 weeks of a 12 month tenancy is not fair wear and tear. God knows what they will say after a 12 month tenancy. AVOID AT ALL COSTS!

Comms69

smashton said:

Landlords avoid!!

Complete scam. Another typical insurance company. Tenants trashed my flat and I had a crime number for criminal damage from police. They agreed to leave after just 4 weeks. When I claimed for the deposit they put all the damage to fair wear and tear. Tenants were aloud to dispute the claim but I’m not. The amount of damage after just 4 weeks of a 12 month tenancy is not fair wear and tear. God knows what they will say after a 12 month tenancy. AVOID AT ALL COSTS!

You realise a crime number means nothing right. You have reported criminal damage, doesnt mean it's actually criminal damage. 

But thanks for resurrecting an old thread instead of starting your own.

alttab11

Agents get a commission off of the deposit don't they? There's been a lot of insurance-based deposit alternatives, but it's hard to find other options for tenants?

greatcrested

Old thread being used to create post count.....