25 Jan

Deposit scheme discounts for buy to let owners

Deposit scheme discounts for buy to let owners

Owners of buy to let properties can join a deposit protection scheme for just £10 in a winter sale.

Landlords looking for a deposit protection firm can save by joining mydeposits.co.uk before January 31st.

Under the Housing Act 2004, people providing flats or houses to rent in the UK must place tenant deposits in a secure protection scheme.

Mydeposits.co.uk provides a protection scheme specifically designed to allow landlords to hold on to tenant deposits.

Eddie Hooker, chief executive of mydeposits.co.uk, said: "By joining mydeposits now you become a member for life.

"Most of our 60,000 landlord members join mydeposits.co.uk because they like to keep control of the deposit."

Should a dispute arise between landlord and tenant at the end of a contract, the firm also provides a free dispute resolution service.

Buy to let properties may become more popular this year, with increased demand for houses to rent in the UK.

The Association of Residential Letting Agents (Arla) revealed that 71 per cent of landlords believe renting is more popular now than it was two years ago.ADNFCR-1222-ID-800362394-ADNFCR

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