The UK Government brought in new legislation in 2007 in respect of residential landlords holding tenants' deposits whereby landlords can no longer hold deposits without entering in to a government-approved scheme. Operating since late 2007, Tenant Indemnity Services Limited (TISL) provides a simple alternative via the marketing of The Tenant Performance Bond and Student Bond.
RSL through TISL provide an insurance product that pays out up to three months rent to the landlord for rent default and or damage which provides reassurance to the Landlord and a low upfront cost to the Tenant.
For more information, go to www.tenantperformancebond.com