Zero deposit

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Zero Deposit

Moving home can be expensive especially when as a tenant you are asked to pay an expensive upfront deposit when beginning a new tenancy.The Zero deposit scheme is an alternative to the traditional security deposit by giving tenants the choice of paying the equivalent of one weeks rent instead. This guarantee makes it a lot more affordable for tenants while still providing security and protection for landlords.

How does it work?

1. Find a property that is eligible for the scheme

When you have chosen the property you would like to rent contact your local branch to see if the property is eligible for the zero deposit scheme.

2. We will provide a quote

If eligible we will provide you with a outline of the costs for both this zero deposit scheme and the traditional security deposit. If opt in for the scheme you will then pay the one week non refundable deposit before the tenancy begins. 

4. End of tenancy

When your tenancy ends and your inventory and check out have been completed as long as there are no disputes from the landlord the guarantee ends and no further action from you is required.

If there are any disputes with the landlord that cant be settled evidence will be sent for an expert review.If the claim ends up in the landlords favour Zero Deposits will seek reimbursement from you directly.


Important information

  • The Zero Deposit Guarantee provides your landlord with protection if you do not pay them directly for the cost of any financial loss or damage due.
  • A Zero Deposit Guarantee is offered to you as choice, so if you prefer to pay a traditional deposit, you can. With a traditional deposit your money will be returned to you if there is no financial loss or damage due to the landlord at the end of the tenancy.
  • You remain completely responsible for any financial loss or damage due to the landlord, as you would with a traditional deposit.
  • The cost of the Zero Deposit Guarantee is not returned to you at the end of your tenancy or offset against any claim by the landlord.
  • If you dispute your landlord's claim and our expert evaluation partner finds in your landlord's favour, we will settle with them and then seek reimbursement from you. Failure to pay us at this stage will result in us passing your debt to a debt collection agency which may incur further costs for you and could affect your credit rating.
  • There is a annual admin fee of £26 per tenancy collected every year by Direct Debit from the first anniversary until the end of the tenancy.