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Rent deposit scheme - information for landlords

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Our rent deposit scheme is an interest-free loan that helps cover the cost of a tenancy deposit or rent in advance.

Rent deposits

You or a letting agent will get the deposit from us. This can be a bank transfer or a bond guarantee certificate.

The law requires that deposits are registered with a deposit protection scheme during the tenancy. You may be charged for this. However, bond guarantee certificates do not need to be registered.

We’ll give you a deposit equal to one month’s rent. The tenant pays this back to us in regular instalments. If you do not make a claim on this at the end of the tenancy, we’ll refund the deposit to your tenant.

The deposit covers damage to the property and furniture provided caused by the tenant or their guests, along with rent-related debt. You must provide a rent statement for this. The deposit does not cover any agency fees.

Rent in advance

We’ll pay you 1 month’s rent in advance, which the tenant pays back to us in regular instalments. This does not cover any damage to the property.

Terms and conditions

You’ll need to sign a landlord agreement before we can pay you. If you cannot sign this, a letting agent can sign it on your behalf.

You must:

  • tell us when the tenancy is over, within the agreed timeframe
  • inspect the property regularly
  • make every effort to collect rent arrears

The full terms and conditions are explained on the paperwork you sign when you join the scheme.

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