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Landlord

1. Are alternatives to traditional deposits popular?

The Tenant Fees Act limited cash deposits Landlords could take to 5 weeks’ worth of rent. This limits the amount a Landlord can expect to receive reasonably quickly following resolution of a dispute. Centurion settles all amounts within 2 working days of receiving the required information.

The Tenant is also at a disadvantage as their capital is tied up during their tenancy and if they chose to move properties they cannot use their existing deposit for the new property. This means that the Tenant will often have 10 weeks of rent tied up in deposit scheme.

2. Why should I use Centurion ADS Guarantee?

Centurion provides twice the cover of a traditional deposit at no extra cost to the Landlord. It also ensures that Tenants do not have cash tied up unnecessarily. The Centurian claim process is quick and simple to use with a balanced approach for both parties.

Centurian ADS is not for everyone and you must consider the overall situation.

3. Does a lack of cash deposit mean that the Tenants wont be able to afford the rent?

To use Centurion all Tenants must pass minimum criteria to be ellgible for the offering, which includes affordability and referencing checks. The minimum criteria includes matters such as the annual income being at least 30 times the monthly rent.

4. Will my Tenants be careless towards the property and rental payment if they have the ADS Guarantee?

Tenants remain fully liable for all dilapidations and rent, along with any other matter noted in the tenancy agreement. Even if Centurion pay the Landlord the Tenant remains responsible and Centurion will pursue the Tenant to recover the amounts.

5. Is the ADS guarantee an insurance policy?

No the ADS Guarantee is not an insurance policy, the Tenant still remains fully liable for all matters under the Tenancy Agreement.

6. How do I know that Centurion will pay out?

Centurion ADS Guarantee is an insurance backed guarantee, should Centurion be unable to meet its commitments then the Landlord has recourse to the Insurer.

The use of a third party insurers provides security and peace of mind to Landlords.

7. Is it compulsory for Tenants or Landlords to use Centurion AGS Guarantee?

No, Centurion must be offered as a choice to Tenants, it is classed as a non-mandatory fee. All Landlords and Tenants must agree to using Centurion. We cannot accept applications where only some Tenants want to use Centurion and the remainder wish to use a traditional cash deposit.

Tenants

1.Is the Centurion fee refundable?

After the start of the tenancy the fee payable to Centurion is non-refundable. In addition the fee payable cannot be used to offset the amount payable to the Landlord.

2.Am I still responsible for unpaid rent and damage caused to the property?

Just like a normal deposit you are liable for all rent and end of tenancy charges. What you may be liable for is included in your tenancy agreement. There is no limitation on your liability.

The difference with Centurion is that you only pay for what you owe at the end of the tenancy, rather than locking up cash for the duration of the tenancy.

3.What does Centurion cost?

Our fee table details all of the fees that may be charged, typically you will pay an initial fee and then annual fee each renewal. There are additional charges should you wish to dispute any end of tenancy charges or change Tenants etc.

The full table can be found here.

4.Is a cash deposit still required?

You cannot use both a cash deposit and Centurion, should the Tenant select Centurion then they will not be required to provide a cash deposit as well.

Landlords are still required to offer the traditional cash deposit and cannot force Tenants to use Centurion.

5.Can I move to Centurion mid way through my tenancy?

Yes, the normal application process will need to be followed and once Centurion ADS Guarantee is in place your Landlord should release your cash deposit.