As a landlord do I have to accept a deposit and enter into a Tenancy Deposit Protection Scheme?
As a landlord you do not have to accept a deposit from a tenant. There are alternatives to deposits, such as having a guarantor. By having a guarantor, a landlord ensures that if the tenant is unable to meet rent payments or other requirements of the tenancy agreement, the guarantor will do so. Another alternative would be to take out an insurance policy. Insurance can be taken out to cover missed rent payments and tenants who fail to abide by the terms of the tenancy agreement. However, if you do decide to accept a deposit, you would be required by law to protect the deposit through one of the government backed Tenancy Deposit Protection Schemes.
