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Alternative to tenancy deposit scheme for landlords proves popular

Flatfair, the payment technology firm, believes that its deposit replacement scheme can help strengthen ties between landlords and tenants.

The initiative, which offers 12 weeks’ worth of protection, is designed for tenants who do not have all the funds up front for a traditional tenancy deposit.

It also includes additional perks for landlords, designed to make it more attractive ahead of the tenant fee ban and the upcoming deposit cap.

The deposit free scheme allows landlords and tenants to resolve issues harmoniously, as demonstrated in a recent claim settled on behalf of an experienced landlord and a couple who had rented her two-bedroom maisonette in Redhill, Surrey. 

The landlord submitted a claim for some dilapidations and repairs to a bathroom door costing £276 and a cleaning bill for £70; under the terms of the scheme, the tenants were happy to settle promptly.

The landlord commented: “I found the service very good… the claims submission process is really easy and the staff are very helpful. As long as you have all the documents for a claim, it works so easily that I forgot all about it till I got an email about the claim.”

Flatfair’s CEO, Franz Doerr, commented: “We hope to continue assisting those who put their trust in flatfair.”

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    If a tenant can't afford the deposit, why believe they'll be able to afford the rent?

  • Paul Barrett

    With a potential 12 weeks of rent protection I can see that being a viable alternative to the now restricted 5 weeks of rent deposit.
    12 weeks exceeds the normal 8 weeks that I usually take.
    Any more than 8 weeks risks a Premiun Tenancy
    I presume that 12 weeks of deposit protection won't create a Premium Tenancy.?
    I could warm towards the 12 weeks of protection.
    I usually prefer cold hard cash in my bank account but could only ever take 8 weeks of rent as a deposit.
    Gonna have to investigate this offer a bit more.

  • icon

    5 weeks Deposit up to £50k rent pa on property Contract or 6 weeks Deposit over that I think.

  • Paul Barrett

    Yep I believe you are correct.
    But would this apply to deposit insurance?

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