Lettings First's rent deposit scheme
Lettings First has been operating a Rent Deposit Scheme since January 2003 and currently has over 1400 tenancies within the private rented sector. Landlords who wish to rent their property through Lettings First can do this by completing the attached property form and returning the form to the Lettings First office.
Landlords can either email this form to email@example.com, fax it on 020 7926 2988 or post it direct to us at 2-7 Town Hall Parade, Brixton Hill, London SW2 1RW. Alternatively, you can call us on 020 7926 2980 and ask to speak to one of our Private Sector Lettings Agents. http://www.lettingsfirst.com/fileadmin/lettingsfirst/images/level2/pictures/Lettings_First_Property_Registration_form.pdf
Lettings First will inform landlords of the rental yeald on the property, advise on the documents needed to comply with legislation, introduce perspective tenants to view the property and complete all paperwork needed for a successful tenancy.
Under the Rent Deposit Scheme landlords and tenants are free to negotiate their own letting agreements. Once a perspective landlord and tenant have agreed in principle that they wish to enter into a letting agreement we can step in to provide a deposit or deposit guarantee and provide all the documentation required including tenancy agreements and inventory. Lettings First does not charge for any of its services.
What is the differenece between a deposit guarantee and a deposit?
The deposit guarantee is not a cash payment, but a written guarantee signed at the beginning of the tenancy and is not subject to the deposit protection scheme.
The deposit is a returnable cash deposit paid to the landlord, by cheque, on behalf of the tenant. This deposit must be placed in a deposit protection scheme.
What the deposit and deposit guarantee does not cover
At the end of the tenancy, landlord and tenant will decide on the return of the deposit after inspecting the property for any damage. However, the deposit does not cover:
All deposits must be returned to Lettings First at the end of the tenancy. Cheques should be made payable to the London Borough of Lambeth.