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a year ago - 1 minute read
Rent deposits are our thing, whether you want one paid or want help protecting one, we can help. It’s why I want to share the secret property agents or landlords may not want you to know.
Once you’ve sent your rent deposit to your property agent or landlord, they have 30 days to put it in a government approved deposit protection scheme. After 30 days, if it has not been correctly protected, you can get up to three times your money back.
Depending on where you’re renting in the UK, there are only three places where your rent deposit will be registered. The only information you’ll need to provide is your deposit amount, postcode, surname and tenancy start date.
If you’re renting in England or Wales:
If you’re renting in Scotland:
If you’re renting in Northern Ireland:
If your deposit is not registered, then you might be able to claim £1,000s back and you’ll need to follow these steps.
The Fronted Deposit gets the exact same protection as a regular deposit, some other deposit alternatives do not.
Insurance or “zero deposit” options don’t have to be registered in a deposit protection scheme. This means that you are liable for damage and arrears, if there’s any debt it can be passed onto a debt recovery service and you may have to pay for renewal costs if you choose to continue your tenancy.
Check your rental contract to review the terms you agreed to or email your property agent to confirm the details.
Needing more budget tricks? You may want to check out our 'Save Renters Money' series.
Co-founder of Fronted
Fronted is a trading name of Fronted Holding Ltd. We are registered in England and Wales (Company No.12278750), registered office address is Fronted, The Fisheries, 1 Mentmore Terrace, London, E8 3PN. Fronted Loans Ltd (Company No.12307305) is authorised and regulated by the Financial Conduct Authority under a Consumer Credit Licence (FCA No. 933316). Fronted Ltd (Company No.12304059) is authorised and regulated by the Financial Conduct Authority under a Broker Licence (FCA No. 933317).
Fronted Loans Ltd and Fronted Ltd is a wholly owned subsidiary of Fronted Holding Ltd. We are part of the FCA regulatory sandbox - Cohort 6. The regulatory sandbox allows firms to test innovative offerings in a live environment. More information on the FCA's regulatory sandbox can be found here.
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