Deposit protection for landlords with student tenants

1 in 5 landlords say that rent arrears have increased among students in 2012 compared to 2011.

• Mismanagement of funds (69% of cases)
• Increase of student fees (19% of cases)

It takes students an average of 18 days to repay outstanding rent. During this time the landlord may need to rely on alternative funds to safeguard any mortgage repayments on the property. With planned increased tuition fees on the horizon, there could be tough times around the corner for students, and challenges for their landlords*. 

Take a deposit and hold it your bank account

With mydeposits you can protect the deposit, keep it in your bank account and comply with the legislation. 

We enable you to keep control:

 Tips for Student Landlords

• Make sure you protect the deposit within 30 days of receiving it from your tenant.  You can do this instantly online in the member's area of our website, 24/7. 

• Ensure both you and your tenant sign the deposit protection certificate  once the deposit is protected and provide them with a copy. Also, give them a copy of the Information for Tenants leaflet. 

• Prepare a fully detailed inventory of the property, make sure both parties sign and date it and provide them with a copy of it.  This is important if there are any disputes over the deposit.

• When the tenancy comes to an end, arrange with the tenant to attend a check-out inspection of the property.