Rental Deposits offers a completely unique service to tenants, landlords and estate agents in the UK. Rental Deposits (part of Capital Assured Deposits- CAD Ltd) was formed in early 2009 with the aim of changing the UK private lettings market, by offering Assisted Deposits to all professional tenants. Rental Deposits is a finance house set up to run in conjunction and affiliated with the Government deposit protection laws. We help tenants have a smooth transcission from one property to the next by paying their full deposit for them in exchange for them paying us a small fee. As you know when a tenant rents a new property they always have to pay their new deposit before they receive their current one back, leaving them with no funds or having to take temporary accommodation between moves until they receive this deposit back.
By coming through us we bridge the gap between moves and allow tenants to move from one property to the next very simply and without financial stress. It is very important that I stress to you that we are simply paying the funds on their behalf, we have no rights to the funds and are not named on any tenancy or related documents and at the end of tenancy its entirely between yourselves and the tenant to discuss and agree on any deductions that may need to be taken. We do not interfere with anything either during or at termination and do not need to know about any deductions, as if we suffer loss to the deposit we paid, we reclaim this direct from the tenant.
How does this work?
Tenants register with us, and then search the markets independently through private landlords and estate agents for a suitable property, the agent or landlord will then agree the tenancy, check references, prepare the contract etc and invoice the tenants for the first months rent and deposit as with any letting. We arrange the payment of the deposit to the landlord on the tenants' behalf; they pay the rent direct to the landlord or agent. The tenant pays us a fee in exchange for us supplying the deposit.
How does this benefit Tenants?
This is simple, as it allows all tenants to move into their next property without them having to pay such a large amount of money, (on average it saves them around 75%).
How does this benefit Estate Agents?
Again this is simple, it costs agents nothing to use and enables agents to let more properties and hence earn more letting revenues as less funds are required by tenants upon tenancy.
How does this benefit Landlords?
Again this is simple, it's free for Landlords to use, but allows them to rent their properties faster, as funds can be made available to tenants immediately. Also it should not matter to a landlord where the tenants deposit funds come from, so long as he receives them prior to tenancy.
The Website
As more and more tenants, landlords and agents become aware of Rental Deposits, they visit our site, which has become a universal property centre bringing all aspects of the letting market together under one umbrella. |
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