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Renting Rooms Out – Checking Your Deposit Is Protected

Renting rooms out for the first time can be a bit daunting and overwhelming, as there is a lot that needs to be taken into consideration. One of the most important factors to bear in mind when you find room for rent is your deposit. You need to ensure that it is protected so that you can get your money back once you vacate.

Worryingly, more than a third of private renters in England and Wales do not know if their deposit is protected or about the tenancy deposit protection (TDP) scheme. If you have an ‘Assured Shorthold Tenancy’ that began on or after April 6th 2007, then your landlord is required, by law, to put your deposit into a protection scheme within 30 days of receiving it. This offers you protection when you rent a room out, as you know the money is not in the landlord’s back pocket, free for him or her to spend. You can go to the small claims court if your landlord does not protect your deposit, and you may receive up to four times of the deposit itself. When your deposit is in a protection scheme, it means that there is a free dispute resolution service if you do not agree with your landlord regarding your deposit. If you do agree with them, your deposit is returned to you within ten days of the tenancy ending. Most importantly, it means that if you have met the terms of your tenancy agreement, you get your full deposit back at the end.

Renting rooms out is made easy with Bellrooms Ltd. Our website differs from other room rental websites because we enable you to contact landlords directly and we do not charge you for our service at present. We also offer many different types of rental spaces, ranging from parking spaces to music rooms. Find out more at https://www.bellrooms.com/.