Private renting. No deposit option. Deposit replacement guarantee product. Help viewing today

[Qwerty19]

I've posted previously (possibly under my old Name) *about our need to move due to expansion of family.
Were currently. HA..no.luck with mutual exchange, and a 7 to 10 Yr wait.
We DO NOT expect the LA to house us because our circumstances changed

So we were deciding whether to rent private or use lounge as our room.. However we'd still need to store our stuff in the bedroom meaning no space for kids stuff. The rooms are very small. Plus lounge is open plan so no privacy at all

We've been offered to view a house today! 1 mile away..can keep ds at his school. Local to family etc etc. We have 1k deposit in cash. Rest can be sorted if needed but they mentioned a no deposit option?

What does this mean? It says about a deposit product or Something?

I am. Terrified of giving up a secure tenancy however this just isn't feasible to stay here. And it's looking like we may end up with dsd with us permanently too for reasons I cannot go into so therefore we need to have everyone's interests in mind.

I mistyped - should have been
“You are still liable for any amount that would normally be withheld from the deposit”

I am a ll and we pay into an insurance scheme which is about £40 a year for us. Then renter pays us less deposit (half) and it is still refunded if they leave house clean and not damaged. it is all done through deposit scheme. We have done this twice now and it is a good compromise when tenants have reference from previous ll to say house was left in good order and tenants cannot afford full deposit as moving from smaller property so small deposit to larger house. We paid insurance though. You can read about it on deposit protection website. It is working for us and our tenants. Any claims at end of tenancy still arbitrated by dps.

Tbh in your case it sounds as if the best thing is to pay a normal deposit. You'll get it all back then.
Otherwise you'll lose the weeks rent and still be liable for any damages.

You'd be replacing the carpets? What do you mean by that?

If carpets need replacing then ll should pay for them. We do.

The carpets don't need replacing. But I have a wool allergy and 2 of them are wool.. So they've said it will be fine. To either put on top or replace and leave what we put down.

I’ve recently moved into a house with an insurance policy rather than a deposit. It’s been excellent. Deposit would have been £1200 refundable up front. Insurance policy was £80 non refundable as a one of payment for 2 years with a renewal of £8 every further 2 years.