Make your property stand out from the crowd and get it let faster by offering a Deposit Replacement Scheme as an option when marketing. Tenants opting for a Deposit Replacement Scheme don’t need to wait for their deposit from their previous property to be returned so you can reduce the time between tenancies by offering it as an alternative options.
Deposit Replacement Schemes offer a higher level of protection on your property than a traditional deposit with up to two months’ rent arrears covered as well as dilapidations or damage to the property for the period of the tenancy. Tenants will also need to take out Tenants Liability insurance and pass referencing to be eligible for this service.
BROADEN YOUR PROSPECTIVE TENANT POOL
Deposit Replacement Schemes give tenants an alternative way of moving into a property without having to front the large sum of money required for a traditional deposit. Offering this option to prospective tenants increases the pool of tenants interested in your property.
FAIR AND IMPARTIAL RESOLUTIONS
If you have any rent arrears or damages disputed at the end of the tenancy our Deposit Replacement Scheme is adjudicated by Hamilton Fraser, independent and impartial specialists who also manage the government authorised tenancy deposit protection scheme, mydeposits.