Taking the deposit and moving the tenants in

As well as requesting cash deposits, many landlords will agree to accept a deposit guarantee product instead for ASTs. It is then up to the tenant to decide which method they wish to use; a landlord cannot insist on the tenant using a guarantee product.  

Many KFH landlords will accept a Zero Deposit Guarantee (ZDG) instead of a cash deposit, whereby the tenant enters into an arrangement directly with the guarantee provider. A typical cost to the tenant is the equivalent of one weeks’ rent (non-refundable).

Whether you are working with your letting agent on a managed or non-managed basis, KFH will ensure you comply with legislation to protect all cash deposits for ASTs, so long as you are using a KFH tenancy agreement. Before the tenancy starts, your agent will normally collect the deposit and the first rent payment on your behalf. As soon as this money clears, the signed tenancy agreement has been received from both the landlord and the tenant, and all other paperwork has been completed, the tenant can move in.

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