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Most landlords then pass on the cost of setting up the bond to their tenants in the way of an admin fee. The company claims that tenants prefer paying a small admin charge rather than having to pay over a large tenant deposit.
For more details of the scheme landlords should go to the Tenant Performance Bond website
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I just logged on to do another tenant vetting and found that The Tenant Performance Bond is no longer active for new business..
This is rather worrying as I already have a number of policies with them for my current tenants.
The message on their website says they will honour existing policies but that remains to be seen. I hope I never need to make a claim..!
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