are there alternatives to taking deposits?

1 Thanks
27 Posts
13 years ago

I have a lady who will be claiming LHA that is interested in my property. The monthly rent is £595 and I have advertised a deposit of £700, however because she will be claiming LHA she will be paid 4 weeks in arrears, therefore can not afford the full amount upfront only £825.

Once credit checks have been carried out and come back satisfactory, I am happy to take a reduced amount at the begginning so she can move in, however I was wondering what to do in regards to rent and deposit?

Should I take £595 rent in advance and £230 deposit?
£685 (5 wks rent) as deposit and £140 towards rent and then agree slightly more on the monthly rent, until she is one months in advance?

Once you have taken a deposit and held it within a scheme can you increase it over time?

Any help/ suggestions would be much appreciated.

Many thanks

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