Please Note; This is only available on certain properties, please apply beforehand.
£ZERO Deposit Bonds allow you to move into your perfect property without the hassle and expense of finding a cash deposit.
See the FAQs below
We've teamed up with Tenant Deposit.com to help Tenants in Leeds move into their new home with Zero Deposit. Your bond is held by TenantDeposit.com and paid by a monthly scheme starting at just £12.50 per month, making the scheme inexpensive for almost any pocket.
With other Agencies you may need to find over three months rent once you account for first months rent, deposit, agency fees and moving costs.
You may have to rely on borrowing from a credit card or unsecured loan to bridge the gap.
Tenants in full time employment are often unable to receive help with their accommodation needs but may for no fault of their own find it difficult to find three months rent to enable them to move.
Now with Let Leeds you won't pay a penny in Fees or Deposits! The scheme is ideal for skilled, unskilled, office and key workers.
Unfortunately Tenant Deposit.com are unable to issue bonds for tenants who are unemployed or receiving housing benefit.
See the FAQs below
Bonds are issued against a monthly premium and a counter indemnity.
The monthly payments are affordable and cheaper than borrowing from most credit cards or unsecured loans.
If your references indicate you also require a guarantor you must have someone sign a guarantor agreement on your behalf.
The bond gives your landlord the same level of security as a deposit or better as we can cover up to two months rent, giving more cover than a normal deposit.
You can find examples of the Bond and accompanying documentation on the TenantDeposit.com website, see the example documents
See the FAQs below
All bonds are administered and purchased online. This means costs are low and the service is available 24 hours a day. You must have access to email.
To purchase a bond online Let Leeds must register and confirm your Tenancy first. Once your Tenancy is registered you will be emailed a link to the TenantDeposit payment system authorising you to finish the application and complete the first payment.
Payments are taken using a valid UK debit or credit card. TenantDeposit will automatically take all future monthly payments from the same account the same as a direct debit.
For more information, see the FAQs below
You can learn more at TenantDeposit.com
Find us at TenantDeposit.com
How much does it cost?
Can DSS Tenants get a Zero Deposit?
What happens if I damage the property?
What is the counter indemnity?
Why must I use a Debit or Credit Card?
Is the Zero Deposit Scheme accepted by all Landlords?
Is there a minimum term?
What if I save up a deposit?
Can I cancel the bond?
What Happens if I fail to pay the monthly premium?
The minimum premium is £12.50 per month making the scheme highly affordable.
No. Many people on such benefits can receive help from local authorities or charities to move into privately rented accommodation.
This scheme is designed for tenants that do not qualify for support from such schemes.
To be eligible to use the bonds you must be in verifiable employment when you sign the tenancy agreement and receive favourable references.
The bonds do not allow you to ignore your responsibilities or the contract.
If you have damaged the property or broken the agreement you are still responsible to pay for any repairs etc. and so should make payment to the landlord.
TenantDeposit.com ensures the landlord is paid for any damage but if we have to pay the landlord, additional charges will be added to your account and we may instruct debt collectors or take court action to recover any unpaid debts.
If you required a guarantor we may also contact them for payment causing potential embarrassment
The counter indemnity confirms your understanding that we do not insure you against breaching the agreement and that we may recover any payments from you or your guarantor.
This document reinforces the right of recovery available to the insurer and is not the sole basis of such rights of recovery.
By using your card TenantDeposit.com receive an instant response from your bank.
Direct Debits take up to two weeks to set up with your bank significantly delaying the issuance of the bond.
The majority of all Let Leeds properties will be set up to take a Zero Deposit for Professionals and Students. However each individual case will be down to the Landlord and referencing criteria.
The bond has a minimum term of six months. You must therefore make a minimum of six monthly payments before the bond may be cancelled.
You may be able to agree pay a cash deposit to your landlord later in the tenancy.
The Bond may only be cancelled after the minimum six month period and the landlord must confirm to us that the bond is no longer required.
Your tenancy is conditional on the bond and therefore your payment for it. Failure to make the monthly payment will result in the termination of your tenancy and charges being added to your account.
Under our scheme the landlord can serve only 2 weeks notice to terminate the tenancy if you fail to make the monthly payment.