Tenant Deposit

Moving home is an expensive time; pulling together money for a deposit, first month’s rent and other associated moving costs can be a real struggle, especially if your previous deposit hasn’t been returned. The Let Alliance Nil Deposit Scheme removes some of this struggle providing you with a more affordable alternative to the traditional deposit system.

How does it work?

Instead of paying a full deposit, you pay a non-refundable nil deposit service charge; significantly less than a traditional deposit, this can be as low as the equivalent of just 1 weeks rent plus VAT. What you do with the money you save is up to you.

Throughout your tenancy you will have tenant’s liability insurance in place - this will protect you and the landlord against accidental damage to the landlord’s fixtures, fittings and furniture.

The Let Alliance Nil Deposit scheme is fair for everyone; upon the end of the tenancy you pay for any damage or rent arrears. Any disputes will be handled by an independent adjudicator.

The Nil Deposit Scheme is renewable every 6 months, with a renewal fee of £15 including VAT which is payable to Let Alliance.

 

Tenant Deposit Diagram

* subject to satisfactory references

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