How to Get a 12 Week Deposit

How to Get a 12 Week Deposit

16:03 PM, 17th April 2023, About A year ago

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We’ve heard it all too often, you come to the end of the tenancy and the rent arrears and dilapidations exceed the deposit held.  You’ve now got to claim the full deposit through the ADR procedure and you are either left out of pocket or have to pursue the tenant through the courts for the balance.

Lettingsupermarket is delighted to be able to offer a deposit replacement Insurance product as part of their management packages which covers up to 12 weeks of rent underwritten by an A+ rated underwriter.

This can be offered as an option to the tenant, opening up the property marketing to a wider audience from an affordability perspective and most importantly providing more cover than a traditional deposit at the end of a tenancy.

If you combine the above with an excellent rent guarantee policy like ours which includes 3 months vacant property cover* and nil excess then you are safeguarding your investment.

Our Managed Packages include:

  • Marketing – Visiting your property to take particulars including photos and walkthrough video.
  • Advertising – your property on the major property portals, Rightmove, Zoopla, On the Market etc.
  • Online Portal – Setting up a system to store your documentation securely so that it can be accessed at any time.
  • Daily Management Journal – If something happens at your property our management journal records important actions and notifies you daily
  • Viewings – Viewings organised at 24 hours notice with full updates on appointment times and both viewer and agent feedback
  • Referencing tenants and guarantors – Full referencing and right to rent checks.
  • Professional Independent Inventories – AIIC/Propertymark or APIP qualified inventory professional.  Favoured by deposit scheme adjudicators
  • Tenancy Agreements – Updated weekly and using the correct Tenancy and Guarantor Agreements
  • Utilities – Taking meter readings on check in and check out and informing utility companies and councils of tenancy change over
  • Deposit Registration – Protecting deposits and serving prescribed information and tenancy deposit certificates within 30 days of the commencement of each new tenancy.
  • Certification – Arranging annual Gas Safety Certificates, 5 Yearly Electrical Inspection Condition Reports and 10 Year Energy performance Certificates.
  • Rents received by Direct Debit – the only reason this wouldn’t be received is if there aren’t adequate funds in a tenants account
  • Arrears –  You are advised when payments are received and any arrears on the account and advised of appropriate action we can take on your behalf.
  • Legal Notices – Issuing the correct notices at the correct time and in the correct way as necessary
  • Maintenance Responding to and dealing with maintenance issues quickly
  • Inspections – receive a full written report with photographs by a Propertymark/Apip/AIIC inventory professional 6 monthly included within your package
  • Rent Guarantee Insurance* – Be covered for upto £100,000 rent and legal cover with vacant occupancy cover for upto 3 months.
  • Check Out – at the end of the tenancy undertaken by an AIIC qualified inventory professional
  • Deposit Return – Negotiating with tenants and dealing with ADR (Alternative Dispute Resolution) or Court cases if necessary
  • Management Changeover – If you have a tenant in situ and wish to swap to™ then we can make the process easy by dealing direct with the current agency. We would obviously inform the tenant and arrange for rents to be paid to ourselves subject to notice periods.

If you fill in your details below we will send out further information and also a link for you to book a zoom introductory call.

*terms and conditions apply


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