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  • Deposit Protection

    Zero Deposit - best new LL product in ages

    See my post above where I have unwittingly answered your question. No, I don't work for them, and in fact I'm nothing to do with them. I'm just trying to get some insight into why landlords seem uninterested in what I think is a good product.

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    Wait until you have to make a claim, then tell us how you got on perhaps?

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    Indeed. However given how few of our landlords seem interested in the product it is likely to be quite some time before we get to find out what they are made of.

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    I don't think that landlords are disinterested at all judging by the links I provided about. 

    ​Deposit replacement is a relatively new concept, and anything new takes time to gain traction with landlords, as 97% of them don't even know they are a landlord.  (The 97% of landlords who have a career, and therefore see themselves as a vet, teacher, lawyer etc ahead of being a landlord).

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    Of the 3% that know they are, maybe the posters in this thread - or my clients - are not a representative example? What are your personal thoughts on the matter?

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    Yes, the 3% are the professional landlords with four or more properties and they are mostly the commentators here who answer questions and support newbies.

    My personal thoughts ...

    I was largely skeptical at first myself, mostly due to a whole raft of these schemes cropping up and appearing on various news sites offering thinly veiled marketing content which tried to off-sell traditional deposit schemes.

    However, I knew Jon Notley of ZD from his Zoopla days and he is extremely credible and well-respected within the industry, so when I found out he was behind ZD, then it gave the whole concept more credibility to me and I was more open to it.

    Prior to ZD coming on board with PT, Nick and I met with Jon and we voiced all our concerns - playing Devil's Advocate as it were - and we were able to put those concerns to bed, once we better understood the proposition and the safe-guards in place.

    I have offered ZD on a property in Manchester that has come up for rent, so will be trialling it myself in due course.

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    I agree with your conclusion. We've let a few with ZD now and the setting up part is dead easy. The proof of the pudding - of course - will be how it goes in the event of a claim.  Cheers!

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    So you run a lettings agency do you? If so, I can now see why you're more interested in it than most LL's appear to be.

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    97% of them don't even know they are a landlord.

    Really? Do you have a source for that statistic?

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