Nil Deposit is an alternative to a traditional deposit which encourages more interest and applications from tenants for properties offering this choice.
Nil Deposit Scheme provides a guarantee to a tenant and a landlord, up to a maximum of 6 weeks’ rent when a claim is made against the tenant.
The tenant pays a Nil Deposit service charge; significantly less than a standard deposit, this can be as low as the equivalent of just 1 weeks rent plus VAT. Tenants’ liability insurance will need to be in place for the complete tenancy term.
Claims are made in the usual way against the tenancy agreement in respect of the condition of the property at the end of the tenancy period. Let Alliance who provide this scheme would negotiate with the tenant in the case of disputes and arrange adjudication when required.
Let Alliances Nil Deposit Scheme provides extra protection for each landlord due to the requirement of a current tenant’s liability insurance policy throughout the terms of the tenancy, which provides up to
£5,000 worth of cover to landlord’s fixtures and fittings.
To qualify for the Nil Deposit Scheme all tenants would need to pass a credit check.
For more information please call our Lettings Department on 01244 343 355 or get in touch using the enquiry form below.
Natalie joined Residential Estates in January 2014 as Short-Term Lets Manager. She now has 6 years of experience in the property industry.
Katie joined Residential Estates as Business Development Manager in February 2021. She has over 4 years experience in the property industry.
Katie was very professional, communicative and very knowledgeable about the properties. It made such a huge difference to be able to ask questions and have the answers or in most instances, the facts were offered to reduce the amount of questions i had to ask,
I haven't been disappointed at all and Katie Jenkins is super diligent and responsive. She found me a new tenant in one day so I couldn't be happier.
Very helpful indeed. Katie was great and provided all the information we asked for and was always available to speak to. Kept in touch but was not pushy at all. Lovely to deal with.
“Residential Estates was my lettings agency for five years and were always very helpful. Any problems we had they looked to get resolved straight away. Never had any problems getting in touch with them either. Great team over there who will support you throughout your tenancy.”
“Good service, very informative and worked around me very well. Would recommend!!”
“Very helpful during the moving in process, majority of issues were resolved very promptly with a few taking a little longer, but mostly due to third party companies not being reliable! Would recommend Residential Estates to students (as postgraduates ourselves) in the future … (Residential Estates) have been a great help in sorting many many issues and generally answer any queries promptly.”
We have been working in partnership with Michael H and his team at Residential Estates for over three years now and they are such a great company to do business with and I can’t recommend them enough!
Excellent communication skills and a can-do attitude to boot, always working with their clients’ interests at heart which can somewhat be a rare ethos to have in the Property Investment sector. Keep up the great work guys and I look forward to working with you on your next development!
We met with Residential Estates 11 years ago. They managed our property and were very helpful with everything. After 11 years, we are now moving this month but we are retaining our house with Residential Estates. They have always dealt with every request we have made. I would highly recommend this agency to anyone looking for a reliable real estate agent. Thank you, H Yilmaz
Dear Katie, Although the property that your firm is currently offering for sale at Prince Madoc Cove has proved to be unsuitable for our personal needs, I would nevertheless like to thank you for the kind consideration that you have afforded us to date. Your courteous, professional manner and prompt replies to our various enquiries have been greatly appreciated. Thank you. With every good wish and... Kind regards...