How will an insurance-based scheme work?
A. The tenant will pay the deposit to the landlord. The landlord will retain the deposit and pay a premium to the insurer. At the end of the tenancy, if the landlord and tenant agree how the deposit should be divided, the landlord returns all or some of the deposit. Refer to Q.24 for what happens in the event of a dispute.
Related Questions
- Will the proposed insurance-based scheme be open only to landlords who are members of a trade body or professional organisation?
- What happens if the landlord fails to transfer the disputed amount into the insurance-based scheme?
- In the event of a dispute in the insurance-based scheme, what happens to the deposit?
