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  • Buy-to-Let

    Property not getting any tenant enquiries!

    Nope, I am still not in agreeance, when you purchase a property you pay a deposit to 1, protect the lender and 2, to show your commitment to the deal .

    Imagine what your mortgage company would say if you said that you were not going to put any money in on the deal but instead would promise to pay should the property get repossessed.

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    I think the video explained everything well, so will let that do the talking.

    I was skeptical at first, but now I understand the ZD option, I think it makes perfect sense and the cash deposit will eventually become a thing of the past imho.

    If tenants have the choice between a Zero Deposit option and a cash deposit, they are going to choose the property with ZD every time, even if they have £10K in the bank!  They might want that deposit money to buy new furniture for their new home, for instance.  It means the cash stays in their bank account for the duration of the tenancy for them to spend as they like.  So, if you are not offering this option, your property is not going to be as attractive as one that is.  So your property will take longer to rent.

    We no longer generally buy things with cash.  We swipe a card instead.  It's just the way the world is going.  Time will of course tell and I will be sure to report how my tenancy started with ZD progresses.


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    I’ve just read some of the FAQs on the Zero Deposit website and my understanding of the scheme is - 

    If deposit at five weeks rent is a £1,000 then the initial premium is £200 and there is also a £26 annual renewal fee.  

    At the end of the tenancy the outgoing tenant is expected to pay for any damage and if they do not Zero Deposit will pay and then pursue the former tenant for the money.

    I suspect not all tenants will be willing to pay the renewal premium and also at the end of the tenancy there will be disputes as to why the tenant has to pay for any damage when they have paid for what they perceive to be a deposit insurance policy.

    Sorry but I’m not convinced that the scheme is a good idea or value for money.

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    Personally I have always found August a terrible month for viewings, so I would stick it out a couple of weeks before dropping the rent.

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    Good point Ann.  Everyone has their head in "holiday" mode and not thinking about moving house until after the summer break.

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    That's a couple of weeks of no rent. I strongly disagree

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    Zero deposit would be a good idea and also advertise on sites like gumtree, Facebook ect.
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    I put 'clean, well behaved pets considered' and I get people begging me to let to them without even viewing.  Of course not all properties are suitable for pets.
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    Disagree with zero deposits and the holiday period.

    Hard to say without knowing the area or seeing the listing, but I generally find if you have just listed your property and no enquiries within the 1st 2 days (a listing has the most views when it is first listed), highly likely the rent is too high.

    It's way too risky to wait if you aren't getting any enquiries. You must act quickly.

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