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How does the tenancy deposit protection scheme work

When a landlord owns a property and a tenant takes up a contract called an Assured Shorthold Tenancy, then the Tenant pays a deposit. The deposit is refundable at the end of the tenancy agreement but acts as a guarantee for the landlord against any damage. In the old days, the landlord would retain the deposit and give it back at the end of the tenancy agreement minus any costs. Nowadays, there is an intermediary in the middle that stores the deposit within a tenancy scheme. This acts as a mediator for any disagreements that may arise at the end of the tenancy agreement. These deposit schemes can be setup online and one account can hold several deposits for multiple houses. Once the tenant has paid the deposit to the landlord, he is then obliged to pay it into the tenancy scheme, he is then required to provide a deposit certificate which can be either given to the tenant via the post or via email.

The tenant at this point can request to have his contents included under the landlords insurance policy or a cheaper solution would be for the tenant to take out his or her individual landlords contents insurance policy. The tenant might be renting student property and in this situation, it is not always essential that a deposit is paid as the students may be bringing in their own furniture. At the end of the tenancy, the landlord will come and inspect the property and check out if any damage has occurred, he would normally take an inventory at the beginning of the tenancy and a copy of this will be given to the tenant. If any discrepancies arise as to what is fair wear and tear and what is damage, then the deposit protection scheme acts as a mediator to resolve these issues, they will require both parties to forward photos and these will be compared so that they arrive at a suitable decision.

The normal deposit required is usually one months rent, however in different situations, the deposit may be higher, for example, if a tenant had a large dog, the potential for damage at the property would be higher and the landlord would be more exposed, and therefore in this instance, a cheap landlord insurance policy would not cover this situation. Therefore, to resolve this the landlord may well ask for 2 or 3 months deposit and this will be forwarded on the tenancy protection scheme




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Landlords Insurance protects the owner of the property for unforeseen events that may occur whilst the property is rented out.  It is created for a landlord’s rental property, both residential and commercial. At its most simple, landlords insurance provides protection for landlords against the costs of property repairs or reconstruction as a result of disasters such, fire flood or subsidence. The basic Landlord Insurance policy provides valuable disaster insurance, should these events happen  to a property, and is often a necessity  for obtaining a mortgage or other finance secured on the property. As a low level  level of protection, Landlords Insurance should pay out for the total rebuild cost of the  landlords property when it has been damaged.

Landlords insurance also provide landlords with liability cover should a third party suffer an injury at the property and hold the landlord responsible for injuries or damages that have happened. It is very important to find the right Landlord Insurance so as the landlord peace of mind to know that all possibilities are covered and particularly that the insurance will pay for the loss of rent whilst the repairs are being done. By comparing the whole market it is possible to see which insurer is offering the best deal and also see which has the best additional features.

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