Damage Bond - Deposit Scheme

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    Damage Bond - Deposit Scheme

    My local authority is giving me a £400 damage bond instead of a deposit for a tenant they are helping out. My tenant is topping this up with a £200 deposit ( I asked for £600 deposit).

    How do I treat this under the Deposit Scheme. Do I just have to put in the £200 as this is the only physical cash I am getting?

    A bond is not a deposit, it's just a promise. If you go putting the full 600 into the deposit scheme I should think your tenant would be able to claim it at the end of the tenancy. I may be wrong.
    I offer no guarantee that anything I say is correct. wysiwyg


      Wonder what the Council's attitude would be if you were to suggest that you would prefer not to have all the hassle of the tenancy deposit scheme for such a small amount of money (£200). Would they be prepared to increase their bond to £600?

      Can you tell us more about the Bond. What is the claim procedure and have the organisation offering the bond carried out an inspection? Are they relying on your inventory signed by the tenant and is this one of their requirements?
      Vic - wicked landlord
      Any advice or suggestions given in my posts are intended for guidance only and not a substitute for completing full searches on this forum, having regard to the advice of others, or seeking appropriate professional opinion.
      Without Plain English Codes of Practice and easy to complete Prescribed Forms the current law is too complex and is thus neither fair to good tenants nor good landlords.


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