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.