{"id":684,"date":"2012-12-05T20:05:27","date_gmt":"2012-12-05T20:05:27","guid":{"rendered":"http:\/\/www.propertyportfoliosoftware.co.uk\/blog\/?p=684"},"modified":"2012-12-05T20:05:27","modified_gmt":"2012-12-05T20:05:27","slug":"should-landlords-stop-asking-for-deposits","status":"publish","type":"post","link":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/should-landlords-stop-asking-for-deposits.html","title":{"rendered":"Should Landlords Stop Asking For Deposits?"},"content":{"rendered":"

I read an interesting article in The Guardian the other day. Written by a fellow landlord, the article discussed the innovative notion of whether landlords should stop asking their tenants for a deposit<\/a> at the start of a tenancy and instead ask them to name a guarantor, a person who becomes legally responsible for any future liabilities that may arise as a result of rent arrears or property damage.<\/p>\n

In the writer\u2019s opinion, this was a far more sensible approach for many reasons. Since a large number of tenants do not have one month\u2019s rent (or more) lying around in their bank accounts, asking for a large deposit up front can put families under enormous financial hardship. There are also a number of stringent guidelines to follow when dealing with a tenant\u2019s deposit, and if you screw up, you face a minefield of problems.<\/p>\n

Asking a tenant to provide a guarantor is certainly one way of ensuring that someone pays when things go wrong, and if the guarantor is a member of the tenant\u2019s family, they are less likely to default on the rent or trash the property. However, guarantees still have to be enforced<\/a> when the need arises, which can be a lengthy process, so some kind of insurance cover would be a better idea.<\/p>\n

There is no right or wrong way of tackling the issue. Ultimately it is whatever works for you, but the best way (for me) is to find a reliable tenant who pays their rent on time and keeps the property clean, tidy, and damage free.<\/p>\n","protected":false},"excerpt":{"rendered":"

I read an interesting article in The Guardian the other day. Written by a fellow landlord, the article discussed the innovative notion of whether landlords should stop asking their tenants for a deposit at the start of a tenancy and … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-684","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts\/684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=684"}],"version-history":[{"count":1,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts\/684\/revisions"}],"predecessor-version":[{"id":685,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/posts\/684\/revisions\/685"}],"wp:attachment":[{"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyportfoliosoftware.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}