Moving into a new rental property is expensive. The security deposit can cost up to six week’s rent and often tenants have to find their next deposit before getting their last one back. This slows people down when moving and makes it harder for landlords to find tenants.
The Zero Deposit Guarantee massively reduces the upfront cost of moving, by giving tenants the option of paying 1 week’s rent instead of a security deposit, while providing landlords with the same security as a six week deposit.
This means that landlords benefit from a wider the pool of tenants and can rent their properties faster. The guarantee is insurance backed, so landlords have the same security as a traditional deposit and is already being distributed by many of the leading agents in the UK.