Rental Deposits - Tenancy Deposit Payments Available all UK Private and Agency Lettings

Rental Deposits is very simple and allows you take tenancy without paying a security deposit or bond yourself, resulting in thousands of saved pounds that would normally be tied up for a year or so. You also run the very high possibility of not receiving that money back due dishonest Agents and Landlords.
 
In exchange for a very small one off premium paid at the commencement of tenancy WE will pay your deposit directly to the landlord or agent on your behalf, thus saving you thousands. Once you have paid the first months rent to the landlord or agent and signed the AST with them you move in just like any standard letting.

Frequently Asked Questions by Tenants

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.

Who Can Apply And Do I need to be Employed?
We can supply deposits to ALL Tenants who meet our required criteria including employed, students and DSS tenants. Please click here for full reference criteria.

Is Rental Deposits accepted by all agents and landlords?
Yes. However please be aware that unless we have dealt with the agent previously, they often initially misunderstand how the Deposit payment works and may inform you that they do not accept payment this way, however 99% of the time, once we have spoken to them, it is then accepted. Therefore it is very important that you contact us as soon as you have found a property you like, even if the agent has informed you that he does not accept payments in this way, so we can arrange it for you. Please see the Find a Property page for a list of registered agents.

Is there a minimum duration of the Rental Deposit Payment?
No, however the premium paid only provides cover for 12 months, if your tenancy exceeds this then a further renewal premium amounting to 15% will need to be paid or a deposit arranged directly with your landlord. Should you terminate tenancy early, no refund premium refund will apply.

What happens if I damage the property or disobey my tenancy agreement?
Rental Deposits does not allow you to ignore your responsibilities or the contract. If you have damaged the property or broken the agreement you are still responsible to pay for any repairs etc. and so should make payment to the landlord.

What is the counter indemnity?
The counter indemnity confirms your understanding that we do not insure you against breaching the agreement and that we may recover any payments deducted from the deposit by the landlord from you or your guarantor. This document reinforces the right of recovery available to the insurer and is not the sole basis of such rights of recovery.