Canopy, the UK property rental market app has teamed up with Rettie & Co. to trial RentPassport and DepositFree insurance at the recently launched Harbour Gateway mid-market Build to Rent (BTR) development in Edinburgh.
The new scheme enables renters to pay their rent via Canopy’s free to use RentPassport, which is backed by Experian, enabling renters to build a credit score and a renter profile which accurately reflects their history as a tenant.
The RentPassport also reduces the back-office costs historically associated with the screening of prospective tenants and reduces the risk of rental arrears.
The tenant will own their digital rental history and data, with the ability to choose with whom to share it. This facilitates a trust-based relationship between all parties involved and is delivered to enable ‘Generation Rent’ to become property owners quicker.
Rettie & Co. residents at Harbour Gateway will be given the choice to move into properties without paying an initial security deposit, which is typically equivalent to four weeks rent. Instead, renters can choose Canopy’s DepositFree insurance product, backed by HISCOX.
DepositFree insurance, which provides landlords and renters with the same protection as a traditional cash deposit, is a one-off policy premium paid by the renter which covers both parties for up to three years. For tenancies longer than three years, a renewal premium would be payable.
Jon Pitt, CCO of Canopy, commented: “Securing a rental property can be very challenging for many prospective tenants, especially when they are waiting for their previous deposit to be returned at the same time as trying to secure and pay for a new property.
“This trial will help people rent their dream home by taking out DepositFree insurance and using Canopy to track their rent to help improve their Experian credit score.”
Matthew Benson, Rettie & Co. Director and Head of Development Services, added: “Scotland, like the rest of the UK, is facing a chronic shortage of housing. In its current state, the private rental sector fails to meet the needs of the nation’s renters. Canopy’s initiatives offer a lasting solution to the issues currently facing Scottish renters.”
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This is a great idea and solves issues for both landlord and tenant
I am glad to read this.
Yes problem solved for three years then they decline to renew insurance and landlord is left high and dry
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People are using property for mortgage loans. After the observation of mala beads people are getting specific amount of mortgage loan. They are using rental properties also. Landlords are also providing property to others for mortgage to solve some issues.
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Makes no difference how many more brain wave ideas you come up with, its rubbish and we are doomed anyway. Property not viable anymore you have collapsed the market we have property sitting empty with over supply and no takers, arrears stacking up while we pay service charges & c/tax on vacant property. Generation Rent might be happy but they don't understand it affects all property values incl' their own parents Home. Sadiq khan is destroying everything no control over him while a big portion of our c/tax at his disposal to waste & destroy us, now he is on about Rent Freeze is he mad or what planet is he on, does he not know we are not looking for a Rent increase but would love to get the Rent arrears that's owning to us, alas no hope of that. He over rules Council Planning system to Build more expensive un-wanted Flats so he wants rid of us the backbone of the Country to try & find occupiers for his overpriced high rise monstrosities. We need someone like Premier Lady Thatcher to sack the Mayors Office close it down just like GLC & County Hall.
Are these high rise flats going to be cheaper rent than prs? Also, what puzzles me is why are they the ones only exempt from every rule in the rent reform - is there any particular reason? Also, why is the net zero rules and EPC upgrade only for PRS? Do the other homes, like houses that people own and live, contribute to it, so why are they not required to improve their EPC if the goal was net zero? I honestly don’t understand this - that they think only rented out properties contribute to everything bad, and they are the only ones that any rules apply to. Why are other businesses not penalised for increase in prices/cost of living, and only rents? And why are all Landlords bad - when will they stop using this myth to draw tenants? Are there no bad tenants, plumbers, electricians, builders, organisations, doctors, etc etc. HOW LONG IS THIS GOING TO GO ON?
I think, the crux of the problem is, we cannot strike!! What can we stop doing? We can’t lock the doors of the rental properties. We cannot walk out like doctors/nurses in the nhs. Things will go on, and they know we can’t do anything. We can go out on a procession, but will they care? There is no way to show our unity, represent us (the NRLA is a joke - they are very happy about the reform tackling anti social behaviour in the rent reform - how cute!! There is no one to represent us. Maybe we should find a way to voice our side - all that’s fair!!
keeep it up
yes Melvin,. While I have a breath left.
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Generation rent know exactly what the game is and is to monster landlords and get people to vote labour. Spending someone else's money, good voting proposal. Everybody wants a free lunch.
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