No deposit rentals - Is this going to create a new property 'Wild West'?
I have just been reading a property industry press article online about the potential benefits and risks to both tenants and landlords of the much hailed zero or low charge insurance-backed deposit schemes:
What will landlords think if their tenants are not having to put any money into the pot to ensure they look after the property? What will tenants think if they have to forfeit at least a week's rent (non-refundable), the cost for the insurance backed product? It's a can of worms and needs careful consideration on both sides. We, the Letting agents and all Inventory Clerks, often the arbitrators on a check-out, could be at the sharp end of this.
As a tenant or landlord, don't get carried away; discuss it with one of our lettings team first.
Watch this space.
Paul Bonett F.N.A.E.A. M.A.R.L.A.