X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Deposit Protection

    Zero Deposit - has anyone used them?

    Has anyone used Zero Deposit?  All the agencies I’ve approached so far have mentioned Zero Deposit as it’s more attractive to tenants as they don’t have to part with so much money upfront, also easier to let your property.

    Any thoughts/experience of using Zero Deposit much appreciated.

    Thanks.

    0
    0

    Not yet but we have seen it advertised more and more and I think we will consider it on new tenancies.

    We have found deposit agencies a pain and problematic if we make a claim, which is rare.

    Thus we feel it may be better, for all involved, to charge a higher rent and no deposit. Also now there is a 5 week maximum deposit rule.

    0
    0

    As a landlord you should be asking what the agent is getting out of the zero deposit deal. My guess is that they will be earning a fat commission.  Then ask what protection is the tenant getting and what will it cost the tenant, my guess is that the tenant is getting little if any protection and it will be costing them far more than any deposit after about 12 months.

    Then ask yourself, is that agent acting for you as landlord or themselves?

    A deposit from the tenant means they have some "skin in the game" no deposit could mean they have no care at all about your property!

    0
    0

    Hi Jeremy,

    Those are the questions that first sprang to mind when I first heard about deposit replacement, of which there are an ever-growing number of schemes, some which have no consumer protection and are un-regulated.

    Those questions and more, which apply to ALL deposit replacement schemes, were answered in this interview with Zero Deposit, which is a reputable company backed by Zoopla and some of the biggest estate agent chains:

    Deposit replacement is here - Zero Deposit

    0
    0