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Can anyone tell me how the No Bond Scheme works please.

Shortly be re-locating back to Burnley, and don't want to waste time saving bond if don't have to.

Asked on Jan 19 2012, Renting in Birkenhead | Report content

Answers (2)

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  • Have you tried contacting the local Council/advice centre? They might be able to answer your question, if they can't, they should be able to direct you to someone who can help. All the best.

    Answered on Jan 25 2012, Report content
  • No Bond schemes are usually provided by the Local Authority for LHA tenants in Private Rented Property. Experience shows that these aren't really worth the paper they are written on (s'cuze the pun) as they don't cover arrears. Other No Bond schemes are available and usually are insurance or warranty based premium style schemes which the tenant pays monthly. We are landlords and a property inventory company, in our experience most landlords wany something tangible - although any security deposit you pay must be registered and protected with one of the 3 approved deposit protection scheme providers - usually landlord or agent's choice of provider. DPS TDS MyDeposits Of the 3 above,the DPS is the only custodial one, i.e. a third party NOT your landlord or agent looks after the money and acts as an indpendant adjudicator in the event of any dispute. Hope that helps

    Answered on Jan 30 2012, Report content

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