A deposit alternative service has responded to recent Citizens Advice  criticisms of the sector.

Citizens Advice raised concerns that some renters using deposit alternative products believe they were not given a clear choice and felt pressured or misled when arranging a tenancy.

Gary Wright, chief executive of flatfair, says: “The findings are concerning and should not be dismissed.

“…. Tenants should always be able to make a clear and informed decision about how they meet their deposit obligations.

“That means clear information, transparent pricing, straightforward documentation and processes that ensure a deposit alternative is presented as a genuine option rather than a default requirement.”

He continues: “Regulation has an important role to play, but it is not the be all and end all.

“Good controls are good controls, whether they are written into regulation or built into the way a responsible provider chooses to operate.”

He concludes: “At flatfair, we have built our approach around transparency, tenant support and robust controls. 

“Tenants need to understand what they are choosing, agents need clear guidance on how products should be introduced, and landlords need confidence that they are still properly protected.”