Lampon Lets is the first Uckfield rental agent to introduce a scheme designed to cut the upfront cost of moving for tenants, while helping landlords’ to let properties faster.
The firm has come together with Let Alliance – one of the rental industry’s leading referencing and insurance providers – to offer their Nil Deposit Scheme.
This is available as an alternative to, though not a replacement for, traditional deposits. Lampon Lets says the option is ideal for tenants who want to move quickly but have been awaiting the return of their previous deposit.
Under the Nil Deposit Scheme, those renting through Lampon Lets now have the chance to embark on a new tenancy by paying a service charge of just one week’s rent plus VAT, rather than a traditional six-week downpayment.
The company says that as well as offering clear advantages to tenants, the facility can provide significant benefits to landlords. Properties marketed under the scheme can attract more applicants, let quicker and minimise void periods between lets.
Tenants choosing an eligible property and wishing to take advantage of the scheme are referenced as usual. They must also have monthly liability/contents insurance in case of accidental damage.
At the end of the tenancy, costs relating to any breach of the tenancy agreement – through actions like rent arrears, non-accidental damage or failure to leave the property in a clean condition – remain the responsibility of the tenant.
If these continue to be outstanding, the Nil Deposit service manages the payment of a fair entitlement to the landlord of up to a maximum of six weeks’ rent and then recovers costs from the tenant.
Lucy Lowe, lettings director at Lampon Lets, said: “Moving into a new rental property can be tough for tenants if their previous deposit has yet to be returned. The Nil Deposit Scheme offers them a perfect solution and we’re already seeing successful results.
“Landlords are under absolutely no pressure to opt in or out of the scheme, but those that do are recognising that it can help their properties attract more applicants and let even faster.”
Tenants and landlords wanting to know more about the Nil Deposit Scheme should contact Lampon Lets on 01825 725500.
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