Our Nil Deposit Scheme provides an alternative to taking a standard deposit from tenants.
Move into your ideal house with no deposit and spend the money on moving costs instead!
Our scheme is available to any applicant/tenant who is in employment only.
Tenants may wish to use this scheme for various reasons; whether because of difficulties in gathering a deposit, waiting for a repayment of a deposit from a previous house or simply because they'd prefer to keep their money and use this scheme instead.
How it works:
1. The tenant pays a Nil Deposit service charge equivalent to 1 week’s rent plus VAT to Let Alliance (arranged through Belvoir).
2. No paperwork and administration related to deposit protection that would apply if deposits were taken.
3. At the end of the tenancy, the usual check-out process is undertaken and any claims are made in the usual way against the tenancy agreement in respect of the condition of the property. Rather than deduct from deposits, any claims are made against the scheme. Let Alliance who manage the scheme will negotiate with tenants in the case of disputes and arrange adjudication when required.
To find out more, please give our lettings team a ring on 01782 478444.