Higher Deposit Bond allowed?Make Text Bigger
With the law changing to only allow 5 weeks rent equivalent for a deposit, can this be contested with Local Councils’s?
One Local Council (LC) I deal with has a Deposit Bond system whereby the deposit is essentially guaranteed by them from day 1 of the tenancy. The deposit is paid back to Council by the tenant by way of a two year payment system.
Experience to date is that such tenants to date that need the Bond then get into arrears/trash the property so the Deposit never fully covers the arrears/damage.
Can I therefore ask for more on the Deposit Bond at the start? I am assuming that the Council can’t charge any more to the tenant (over the 5 week deposit ruling), but it may focus their attention if they knowingly pass me a ‘difficult’ tenant but refuse to tell me that in the first place? Almost like a DHP in advance, but for once in favour of the LL. Clearly no financial loss to them at all if tenant proves a good one, but financial security to me if they aren’t.
Anyone had any experience of this? Anyone approached their LC Housing Dept?
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