Student Lettings Query - Deposits - Contracts

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    Student Lettings Query - Deposits - Contracts

    Hi,

    I wonder if any fellow student landlords can advise how best to secure student tenants for the next academic year.

    I'm looking to secure student tenants. I understand i can sign the contract now, for a start in 8-9 months time, however is this still the case of the deposit?

    Normally for professional tenants a deposit of 4-5 weeks rent equivalent would be taken, however with student tenants this doesn't seem to be the case and 1-2 weeks seems to the norm. In many cases when i've spoken with agents they have said take £0 deposit.

    My concern is if taking a small deposit, the tenants could sign and then decide not to take the property.

    I understand a contract would be joint and several, how would this then work with joint & several guarantors? Would one guarantor be sufficient for all tenants, or is it better to have more.

    Thanks in advance.

    Max


    #2
    This is being discussed in another active thread, although possibly on the general residential rental forum.

    Even for professional tenants, you cannot take more than one week's deposit as a holding deposit.

    Comment


      #3
      Sorry i should clarify which deposit. My issue is not the holding deposit, it's the actual deposit being taken almost 9 months in advance of moving in to a property. I wasn't sure if i read about there being an issue of this. Ultimately it needs to be protected within 30 days though.

      Comment


        #4
        See here: https://forums.landlordzone.co.uk/fo...e-of-a-tenancy

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