Renting deposit free (or no deposit) exists as a new alternative to a traditional deposit you have to put down before renting a property.
We work with flatfair – our deposit-free provider of this service.
How does no deposit work?
Instead of paying a traditional five weeks security deposit (or six weeks where the annual rent exceeds £50,000), you pay a fee of one week’s rent +VAT to become a member of a deposit free renting scheme which can significantly reduce your up-front costs.
This fee is non-refundable and is not a deposit. Any outstanding costs or damages will be payable by the tenant at the end of the tenancy.
You can set this up through your local agent and flatfair. As a tenant, it’s as easy as 1-2-3.
- Join flatfair
- Pay a one off fee
- Stay protected
What are the benefits of deposit-free renting?
- Lower upfront move-in costs of just one weeks’ rent (+VAT), split evenly between the household
- Fast and easy check-out; you simply pay for what you are responsible for, including damages or missing rent on flatfair’s easy to use platform
- If you disagree with any charges, you can use flatfair’s platform to negotiate charges
- And the option of government backed independent adjudication is available if these can’t be settled upon
- No sneaky or recurring fees if you decide to renew your tenancy and stay in your home
Find out if you can rent deposit free
Contact your local office and ask if they have any properties currently available with no deposit
FAQs on deposit-free renting
1) Why should every tenant use this?
Whilst removing the need for expensive deposits that often overlap between tenancies, flatfair also provide an easier, fairer way to pay for – or dispute – end of tenancy charges made by your landlord or letting agent.
2) How much does it cost?
A flatfair membership costs 1 weeks’ rent +VAT and is split between the household. You can ask your Hunters letting agent or landlord for more details.
3) What if I’ve already paid a deposit?
flatfair can simply convert your deposit into a flatfair membership and return the original deposit amount (Subject to agreement by the landlord).
4) Am I liable for end of tenancy charges?
Yes. When your tenancy ends, you’re fully liable to cover the cost of any damages or unpaid rent as outlined in your tenancy agreement, save for wear and tear.
5) What happens if I accidentally break something?
It happens! Simply pay at the end of your tenancy.
6) What happens if I have flatmates?
As with a deposit, you and your flatmates are each jointly liable for any damages so please treat the property with care and pay your rent on time.
7) What happens if there’s a change of house sharer?
Your Hunters letting agent or landlord will simply add the new tenant as a flatfair member – at no extra cost to you.
8) When does my flatfair membership expire?
Your membership expires in line with your initial tenancy end date, and may be extended by your landlord or Hunters letting agent at no cost.
9) What happens at the end of my tenancy?
As with a traditional deposit at the end of your tenancy, your landlord has the right to raise charges or release you with nothing to pay.
10) Do flatfair reward good tenants?
Tenants who stick to their rental obligations build up a strong flatscore and benefit from a range of future discounts, as well as the credibility.
11) What happens if my landlord or letting agent submits a charge?
If you agree with the charge, flatfair will invoice all tenants equally. If you don’t agree, you can counter the charge and negotiate until an agreement is reached. We also enable you to dispute the charge and send it to Independent Dispute Resolution.
12) What happens in the case of dispute?
In the case of a disagreement between you and your landlord or letting agent, an independent government authorised dispute resolution provider will decide on the case. Raising a dispute costs £25 (plus VAT), but we’ll refund this once your dispute is found to have been made in good faith and not of a scrupulous nature.
Start your flatfair journey here
