A deposit alternative supplier claims desperate landlords are turning to this kind of service.
Flatfair says landlords are under financial pressure thanks to the Renters’ Rights Bill – still making its way through Parliament – and government proposals to introduce a new minimum energy efficiency standard for all private rental properties by 2030.
Chief executive Gary Wright comments: “What [landlords] are looking for is security and a reason to be optimistic – especially since the Renters’ Rights Bill is set to abolish Section 21 evictions and assured shorthold tenancy agreements when it comes into force next year.”
He claims this has turned landlords towards products such as his.
Over the last 12 months, flatfair says it’s welcomed Build To Rent providers including Andrews Property Group, Dandara Living, Reed Residential, The Property Centre, Turay Homes and urbanbubble.
And Wright adds that 52% of tenants chose one of his products over a traditional deposit when presented with the two options side by side.
