Zero deposits for Landlords
If you are a landlord you can opt in for the Zero Deposit Guarantee which will mean you are better protected, can attract tenants faster and get faster payouts at the end of the tenancy.
The scheme makes renting better for everyone involved as the landlord will still receive the same cover and protection equal to six week deposit, even after the deposit cap and the tenant will only have to pay one weeks rent which reduces the upfront cost of renting meaning the the scheme can speed up the process and reduce void periods.
How does the scheme work?
1. If you choose to opt in for the Zero Deposit Guarantee scheme we will add this to your property listing information to make it clear and attract tenants to your property.
2. When we have found a tenant and they decide to opt in for the scheme they will pay the equivalent of one weeks rent as their deposit. You will still have the same protection as a traditional security deposit.
End of tenancy
3. If you are happy with the state of the property at the end of the tenancy no further action is required. If you are unhappy and wish to claim money from the tenant due to damages for example the tenant will be given the option to pay this directly to you.
4. If the tenant doesn't agree with the figure evidence will need to be sent from the tenant and the landlord to the TDS to review and handle. If we are managing your property we will take care of all of this for you.