Best deposit method for LL

Landlord Discussion
1

Hi there,

What have people to be found the best deposit scheme from a LL perspective?

The reposit scheme is appealing as it covers 8 weeks rent. However, with an insured TDS scheme, am I right in thinking the LL pays a charge and then has access to the money? Is it possible to then put that money in an account to earn interest on? Albeit that the max desposit in this instance that could be asked for is 1 month rent?

As a new landlord, I wondered what the more experienced guys on here are doing?

Thanks in advance

2

If you use an insured scheme then you have to ensure youre very organised about renewing the insurance when necessary, otherwise it expires and can leave you vulnerable to a penalty claim by the tenant.

3

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