1. Why should you use the Blinc Deposit Replacement Scheme?
Our deposit replacement has been designed to be a simple and affordable alternative to a standard deposit, and can help you save large amounts of money on your upfront costs, making moving much easier, and allowing you to defer any charges until the end of the tenancy when you know what they are
2. When should I purchase my Blinc DRS?
You need to have already found a property, and you will need to discuss this option with your landlord/letting agent as they will need to agree to accept this. If they have not yet heard of our product you can send us an enquiry and we will make contact with them. Alternatively you can direct them to our website www.blincdrs.com for more information
3. How much does it cost?
For our standard 8 week DRS the cost is the equivalent amount to 1 weeks rent (this includes VAT), we do also have a 12 week option available at an additional cost. After the initial purchase there is an annual administration fee of £30.00 for the duration of the tenancy
4. What happens if there is more than one tenant?
As with a traditional deposit you would only require 1 Blinc DRS and all tenants would be jointly and severally liable for any charges made at the end of the tenancy
5. Do I remain Liable for any charges at the end of the tenancy?
Yes. The Blinc DRS allows you to defer any amount you need to pay at the end of the tenancy until you know what the amount is, this means you do not need to have large sums of money tied up in the landlords bank and can use the money you save in your upfront costs for more important things
6. Does the cost of the DRS get taken off the final charges at the end of the tenancy?
No. The cost of the DRS is a charge for joining our scheme, you remain fully liable for all charges made at the end of the tenancy
7. What happens at the end of my tenancy?
The process at the end of the tenancy is similar to the current process, your landlord will carry out a check out inventory and inform you and Blinc of the amount they wish to charge, you then pay this amount at the end of the tenancy, once you know the amount due
8. What happens if I do not agree with my landlords charges?
Blinc are partnered with HF Resolutions Ltd, an independent company who provide dispute resolution, if you dispute the charge we will pass the case to them and their decision will be final
9. Can I cancel my Blinc DRS?
You can cancel the Blinc DRS if you do not move into the property free of charge, however we will require written consent from the landlord/letting agent to confirm that you did not move into the property
10. What happens if I do not pay you at the end of the tenancy?
It is important that you do pay at the end of the tenancy, failure to do so could result in our insurance provider passing the debt to a third party debt collection agency and may affect you ability to obtain credit in the future
11. How do I know I can trust the Blinc DRS?
The Blinc DRS is a Scheme, not an insurance product, however Blinc are directly insured by an A rated Insurance Underwriter for this product. Blinc-UK are company specialising in letting service with our core business being tenant referencing, we have been trading since 2008