has anyone ever used tenantdeposit.com or know if it is a legitimate site?

or can someone please explain how it works,

thanks in advance (:

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Answer:It is legitimate, I looked at it for some tenants last year.

Basically, you pay them a monthly insurance premium and a smallish application fee. If you trash the place, they recompense your landlord – and probably come after you for the money!

The advantage is that you don't have to find a large deposit up front.

The disadvantage is you will never see the money you pay them.

If you fail a normal landlord credit check (and you will have to undergo one) you will still be required to provide a guarantor.

Many landlords will be wary because they know that the 3 government approved schemes are legitimate – they will not be confident about an insurance company paying up!

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