Rent a room scheme tenant - deposit

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  • Snorkerz
    replied
    If you are resident in the property, you can but you don't have to.

    Leave a comment:


  • ram
    replied
    Do you live in the property, and is it your main residence.

    if so, there is no need to protect the deposit, and would be ill advised
    to do so, as you are then in control, and not under the workings of
    the DPS who will want masses of information / proof / if there is a
    dispute.
    Keep it simple, sick it in your building society account

    Leave a comment:


  • Rosalind
    started a topic Rent a room scheme tenant - deposit

    Rent a room scheme tenant - deposit

    I have just started letting furnished rooms in my own home and have taken a deposit. Can I still use the DPS for the deposit as this is not an assured tenancy? Thanks

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  • Reply to Selling to tenants
    by Hudson01
    You could simply say to them that from XXXX date the property will not be let as is has been sold....... that is all you say, no mention of the buyers being the in-situ tenants.
    26-01-2022, 17:35 PM
  • Selling to tenants
    by r3drover
    Hi, hoping you good people may be able to give me some advice 🙂

    i have a rental property that I am now looking to sell. I am interested in selling to my tenants and have been looking at my contract with my letting agents to see if there are any consequences of this.

    There’s...
    26-01-2022, 16:27 PM
  • Reply to Selling to tenants
    by r3drover
    Thanks for both your replies.

    It was fully managed.

    yes I do plan to speak to agent. My concern is they will try and use it as leverage to insert themselves in the sale process. Just wondered if anyone else has hit anything similar?
    26-01-2022, 17:19 PM
  • Reply to Selling to tenants
    by jpucng62
    Speak to your agent & ask them to put in writing what fees would be charged in the event of this happening....
    26-01-2022, 16:43 PM
  • Reply to Selling to tenants
    by Hudson01
    The original arrangement with the tenants, was it ia fully managed or tenant find only arrangement ? I have done this a few times on a tenant find basis and let all my AST's go periodic (so the tenants stay), i have paid zero to every agent, and they have never been knocking asking for any money.
    26-01-2022, 16:36 PM
  • Reply to Inherited a few rentals
    by Flashback1966
    With regards to keep or sell. Those 4 properties are not just assets, but you need to see them as say children, which need looking after. You can't switch off because you are busy. It is 24/7 responsibility, as you are responsible for the property and the health and safety of the people living. If...
    26-01-2022, 14:23 PM
  • Inherited a few rentals
    by Landlord7289
    Hoping for some advice on this situation from people who may have been through similar...

    I am inheriting 4 rental properties from my late father. Are there any tips or ideas people would share about this situation?

    My situation is I am early 30s in full time employment, live...
    25-01-2022, 15:02 PM
  • Reply to Inherited a few rentals
    by Flashback1966
    Almost anything beats working for a living.

    Running a portfolio is just as demanding and stressful. If someone worked in an office, it is a 9 to 5 job. Their taxes are paid by their employer.


    Running a portfolio of properties, can be demanding. Even with agents in place....
    26-01-2022, 13:46 PM
  • Reply to Inherited a few rentals
    by jpkeates
    Almost anything beats working for a living.

    Becoming a landlord because you've inherited some property makes about as much sense as inheriting several cars and setting up a taxi business.
    26-01-2022, 13:19 PM
  • Reply to Inherited a few rentals
    by theartfullodger
    Well, unless one was a masocist. Been retired 14 years now, those memories of work fading also....
    26-01-2022, 12:53 PM
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