Carter Jonas, Marsh & Parsons and James Pendleton have become the latest letting agents to sign up to the Zero Deposit guarantee, a tenant’s deposit replacement product that is to be offered across the 31 offices belonging to the companies.
A number of letting agents, including Knight Frank, John D Wood, Acorn Group, Douglas and Gordon, Foxtons, Barnard Marcus, and KFH, are now offering the Zero Deposit replacement product, launched in 2018, allowing tenants to acquire an insurance policy in lieu of a deposit.
Lisa Simon, head of residential division at Carter Jonas, commented: “We chose to work with Zero Deposit because not only do they provide tenants with an alternative to providing a cash deposit which makes our landlords’ properties more attractive, they also give us the ability to offer our clients the equivalent of six weeks deposit following the introduction of the Tenant Fees Act in the summer.
“Furthermore, as Zero Deposit works with TDS, it meant we felt very comfortable about the arbitration process and our standard paperwork was more applicable which meant less change for our clients.”
There are now more than 2,640 letting agent offices nationwide offering Zero Deposit to both landlords and tenants alike, and there still appears to be plenty more room for growth.
Jon Notley, CEO at Zero Deposit, said: “2020 is proving to be another year of growth for Zero Deposit as we work hard to ensure that all agencies in the UK know that there is a credible alternative to deposits for their landlords which offers more protection.
“We’re delighted to welcome these new brands on board and expect to share news of similarly impressive additions in the coming months. The importance of an FCA-authorised option that protects tenants, landlords and ultimately agents has come to the fore with recent press coverage.
“We’re setting new records on a monthly basis as we make finding a deposit-free home easier, fairer and faster. With this continued growth and track record, it’s no surprise that we are welcoming so many agents on board.”