Special deposit for someone without a cash deposit

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    Special deposit for someone without a cash deposit

    I'm trying to get a lodger for a room, and found this person and I thought they looked decent, asked the right questions etc. the T now said that I will get a call from thier housing officer, I then asked if they were on benefit, they said No since they were a student.

    Now I finally got a call from the housing officer, the problem now is that they are offering a bond scheme whereby, the prospective T doesnt have a cash deposit or whatever, and they are going to be standing in for them via a bond.

    Now, I have never had problems with holding deposit, I always use a deposit scheme, always insist T take photos, I take photos took and undergo a full inventory with T signing off on the inventory.

    Now I dont feel comfy with this desposit arrangement, especially as the charity will also be paying her rent in advance as well and they will be taking it off her wages etc.

    I'm not sure if anybody else has had experience with this kind of setup, they say they help young people.

    This is a recognised scheme to help renters - not necessarily the young.

    If you don't feel happy about the scheme go with your gut re-action and don't let to them. You have that choice.

    You could try asking if this proposed tenant has rented before and see if you can get a landlord reference.

    Freedom at the point of zero............


      I no longer take anyone on the paper bond scheme as I've had nothing but trouble with them. The paper bond has a limited life span (I bet the council didn't tell you that) and if the T does not pay back the deposit within the timeframe the council withdraw the bond and you are left with no bond.


        Don't bother, TOO much trouble.

        Sorry that people are in that predicament, but ( just seen above post )
        as said, not worth your time on the phone, letters, then asking where
        the rent is, why did it not come through, etc, etc, etc.

        Hold out for someone who has the money.
        There are thousands out there, so don't pick the first one that comes.


          That the prospective tenant offers a bond is just another way of him saying he has money problems:

          It's a harsh world, capitalism: Make you own decision based on the information you have.
          I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...


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