We are still open for business, both online and in person but are always keeping you safe, click here to find out more about our services.

Loveitts unveil new partnership with Zero Deposit

Loveitts are excited to announce a new partnership with Zero Deposit, the providers of an innovative new product that is aimed at improving the rental process for landlords and tenants.

 

What it is?

 

  • Tenants purchase a Guarantee for the cost of one week's rent that gives you the equivalent protection of a six-week cash deposit

 

Why are we partnering?

 

  • These types of products can help tenants by reducing the upfront cost of renting and can help speed up the rental process and reduce void periods
  • We still do our same referencing, so the quality of tenant will stay the same

 

What protection do Landlords get?

 

  • The Guarantee gives you effectively the same cover as a cash deposit and lines up with your AST
  • As with a cash deposit, the tenant(s) remain fully accountable for looking after your property and making rental payments
  • The Guarantee is backed and underwritten by Great Lakes Insurance SE which means there are safeguards in place to help ensure you get a fair and transparent product with no hidden risks

 

What if there are issues at the end of the tenancy?

 

  • Zero Deposit are partnered with TDS, the longest running Government backed deposit scheme, who make the decision on any disputes
  • If you would get paid with a traditional deposit, the outcome will be the same with Zero Deposit
  • In the event of a fair claim found in your favour, Zero Deposit pay you within 2 working days and pursue the tenant to reimburse them

 

 

We think that by offering this product, our landlords will potentially now be able to open their property up to a wider audience of tenants by making it stand out from the crowd.

 

If you would like your property to be offered with a Zero Deposit Guarantee option then please contact Paul Barnes in our lettings department on 024 7622 8111.

Related Articles