When taking tenant deposits should I hold them in my own business bank account or a government deposit scheme for rent to rent properties?
Welcome to episode 23 of 'Ask The Angels' where we answer your rent to rent questions.
If you’d like to have your question answered go to rent2rentsuccess.com/ask and record your question from me to answer for you.
Today we have a question from Raqib about tenancy deposits.
Here’s Raqib’s question...
“When taking deposits do you store them in your business bank account or a government scheme?"
When tenants pay deposits to you, they must be protected by a government approved tenancy deposit scheme. In this episode I'm going to explain a little more about the context here and the law and also which schemes will save you hassle and money.
If you’d like to find out more about the ethical way to make money from properties you don’t own, get our Free Rent 2 Rent Success Guide & Masterclass.
It’s a booklet and a 90 minute training video giving the full overview to how rent to rent works so you can see whether it’s right for you.
Ask your question!
If you’d like to have your question answered go to rent2rentsuccess.com/ask and record your question from me to answer for you.
Have you found this useful?
We’d be super appreciative you could leave a review on apple podcasts.
CLICK HERE to leave a Review on Apple Podcasts
And for every podcast review you give, you’re giving to help children in the Turkana region of Kenya to have the uniform and books they need to attend school. We’ll be contributing through B1G1.
Until next time, have a great rest of the week.
And remember, Believe Bigger, Be Bolder and Be a Gamechanger!
See you soon!
Stephanie & Nicky
xx
You’ll love these too…
Athena shares her journey from leaving her full-time job to going full-time in property investing. She discusses the importance of mindset, the power of multiple income streams, and the mistakes people make when starting out in property.