Deposit alternative service flatfair says it’s had a bumper month working with Build To Rent operators – and it tells private buy to let landlords to follow suit.

Flatfair says it sold 80% more deposit alternative plans to Build To Rent landlords in July than in the same month in 2023, and that its products are now available at some 77% of ‘live’ BTR schemes.

It is working with BTR players including Greystar, Native Residential and urbanbubble.

Now flatfair chief executive Gary Wright suggests private buy to let landlords should get involved.

“Understandably, landlords feel they are living in uncertain times. Local authority licensing is on the increase and the Renters Rights Bill is just around the corner. It’s not surprising that the bigger providers are looking at the rental landscape and seeking out as much protection as they can for their investments” he says.

“With the extra [10 week] protection offered with our deposit alternative, there can be a misconception that it costs landlords money. But it is completely free for both agents and landlords and they unlock double the amount of protection in the event of damage to property or rent arrears at the end of the tenancy.

“There can also be a mistaken belief that deposit alternatives attract a poorer quality of tenant but in our case, the vast majority of No Deposit tenancies have closed without charges or they have been settled in full by the tenant. The remainder have set up repayment plans for the money to be fully recovered on behalf of the landlord.

“A month on after the election, we can clearly see the direction of travel – that is very tenant-focused – landlords will be bound to be feeling pressure.

“The BTR sector – as a group of very large landlords – are absolutely committed to this product and see the value of it and we firmly believe that agents and smaller landlords would feel the benefit if they followed suit. They are the lifeblood of the Private Rented Sector and they should feel that their businesses are safe and secure.

“The bigger BTR players have already realised this and there is no reason why private landlords should miss out.”