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.
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.

Want to see real life examples of how rent to rent works?
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Until next time, have a great rest of the week.
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See you soon!
Stephanie & Nicky
xx

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