Hello all,
I’m just looking to understand if it’s legal to take a one off non refundable payment instead of a tenancy deposit?
Similar to how a deposit replacement company works, but without being able to charge anything at the end of the tenancy.
Thanks in advance!
Why would you want to do this? Sounds bad for everyone involved. I don’t think it’s legal for ASTs but not sure.
No. Illegal under the Tenant Fees Act 2019. Look it up and you’ll find the only payments that are legal.
Makes little sense anyway. Deposit replacement works on the basis that the company providing the service can pursue the tenant for the cost of damage caused. If you were providing the service, without the right to pursue the tenant for damage, then they would have no incentive to maintain your property.
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