Because the scheme confirms the good standing of tenants, provides cover
for unpaid rent and loss and damage to property at no cost to yourself, and allows
you to offer tenancies without taking security deposits – thus avoiding
the cost and inconvenience of participating in a tenant deposit protection scheme
(which will be compulsory from April 2007).
No. Only tenants who meet our exacting standards
are allowed to be members of the scheme. Landlords need
only verify the identity of tenants and check their scheme
membership.
All assured shorthold tenancies where the sole tenants
or all of the joint tenants are members of the Tenant
Guarantee Scheme.
Periodic tenancies are covered.
If your tenant should not pay the monthly
subscription, you will still be fully covered for the remainder
of the tenancy. If this should happen your tenant will not be able
to use the scheme and benefit from this in the future.
If you choose not to ask for a deposit because you are covered by the Tenant
Guarantee Scheme for loss and damage you do not need to join a tenant deposit
protection scheme.
You are covered for up to a specified total for non-payment
of rent and/or damage to your property or loss or damage
to its contents.
Tenants pay for membership of the scheme. Landlords and
agents pay nothing and only need accept tenants who are members
of the scheme.
Go to the Landlord Claim page
for details.
Very little. Most contact is online and we undertake
all checks automatically before admitting tenants to
membership of the scheme.
As from 6 April 2007 all landlords taking deposits
for new assured shorthold tenancies in England and Wales
have by law had to pass over the deposit to the new ‘custodial’ deposit
protection scheme, or pay a fee to the ‘insured’ scheme
to protect the deposit – which can cost up to £95
for landlords with only one property. If there is a dispute
over the return of the deposit at the end of the tenancy,
the amount disputed must be held in the scheme and cannot
be repaid until the outcome of alternative dispute resolution
has been agreed.
Yes. Agents can use the scheme in exactly the same
way as landlords. By accepting tenants who are members
of the scheme they can also avoid the cost and administrative
burden of joining a tenancy deposit protection scheme.
