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No need for a deposit?

molly jones

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Hi Molly

Great idea in principle - but £120 a pop - to remove all the hassle !

The way i see it you are going to have to do a top job at inventory level regardless- once you have done this it is then just a case of who you are going to argue with to get your disputed money from!

If it is a clear cut case on damgage then it doesn't really matter who you arguing with assuming you have won b4 you start !

But claiming any "grey" disputes is going to be a problem with all providers - from what i have seen so far lodging the tenant's money with the custodial scheme is pretty straight forward as will be returning it - okay disputes may become protracted but this service is free.

IGuarantee and Tassure dont seem to really ease any of the pain as somehere along the line a dispute will have to be settled by either mediation or court (clearly as an insurance back scheme they are going to ask tenant for thier version of events as well - ) or inhouse insurance claims assessor/arbitration.

Now in my experience insurance companies are they to make profit, not to become the Landlord benevolent fund/money tree so if you are going to make a claim then it will need to be watertight - you are going to have to convince/argue/fight/prove your claim for it to succeed(as it will with all schemes)

That said I fail to see the benefit of paying £120 for the service (albeit includes £20 for referencing ) I would rather pay £20 for ref else where and put the bond in either custodial or ins Scheme.

My thoughts at the moment are that if you are going to charge a tenant £120 then it would be far better to use custodial (free) or ins (approx 35?) to lodge bond - then use £20 to reference leaving £65 (or £95 if you use cust sch)in your pocket - which is about the average claim (for me)- At the end(if there is a claim ) make the claim and if it succeeds great, if not -well you have got the cash in your bin already - If there is no claim then the "surplus" money will be offset by the extra admin work, inventories etc which you are going to have to do from now on regardless!

My thoughts are changing with the weather at the moment as new factors keep occurring in the equation !

I think it will be some weeks or even months b4 we a have enough information to fully evaluate the stuation properly


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