ATA 023 – When taking tenant deposits should I hold them in my own business bank account or a government deposit scheme for rent to rent properties?

Welcome to episode 23 of 'Ask The Angels' where we answer your rent to rent questions.If you’d like to have your question answered go to rent2rentsuccess.com/ask and record your question from me to answer for you.Today we have a question from Raqib about tenancy deposits.Here’s Raqib’s question...“When taking deposits do you store them in your business bank account or a government scheme?"When tenants pay deposits to you, they must be protected by a government approved tenancy deposit scheme. In this episode I'm going to explain a little more about the context here and the law and also which schemes will save you hassle and money.If you’d like to find out more about the ethical way to make money from properties you don’t own, get our Free Rent 2 Rent Success Guide & Masterclass. It’s a booklet and a 90 minute training video giving the full overview to how rent to rent works so you can see whether it’s right for you.Visit the episode page to hear  the full answer and ask your question!✅ https://rent2rentsuccess.com/ata23 ✅ Support the show