In order for us to issue a deposit on your behalf you will first need to Register For Free. Once you have registered and found a property you must also meet the following requirements before we can release the deposit:
Employed |
Student |
DSS |
You must earn 1.5 x
the monthly rent and
provide the documents
listed below |
You will need a
guarantor who can
provide the documents
listed below |
You MUST have been
on benefits for less than
3 MONTHS to qualify,
you will need a guarantor
who can supply the
documents listed below
and who earns at least
2 x the monthly rent |
ALL tenants named on the proposed tenancy must supply to Rental Deposits a scanned copy by email with the following references:
This must be forwarded
-Copy of passport/ Licence
Plus any 2 of the last 3
-Bank Statement - (dated in last 3 months)
-Previous Landlord Reference - (this must identify residency for at least 6 months, if the period is shorter than 6 months then a previous landlord reference will also be required)
-Work Reference on headed paper - (stating role, time employed, salary, hours of work)
nb. work reference or bank statements must show that you earn or have access to 1.5 x the montly/weekly rent.
Guarantors
Guarantor required
(if you can not provide the above or if you are students or DSS). Guarantor will need to supply the above documents in addition to you
THE MAXIMUM DEPOSIT THAT CAN BE ISSUED FOR DSS IS £1200. The limit for employed and student applicants is £15000 per deposit.
Checks take between 12-48 hours.
How much does it cost?
The premium for Rental Deposits providing the deposit on your behalf is set at 25% of amount required by the landlord as total deposit. There is nothing to pay in advance, registration is free. The premium only becomes due if you take tenancy at a property and move in.
Example:-
Security Deposit required by Landlord is £1300. Premium for us providing this deposit is 25%.
25% of £1300= £325
An admin fee of £90.00 also applies per deposit issued
Once your application has been processed and the fee paid, we will issue the deposit to your agent or landlord. The deposit remains our property during the tenancy- AT THE END OF THE TENANCY THE FULL DEPOSIT PAID BY US IS RETURNED TO US NOT YOU.
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