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Landlord zero deposit

If you're a Landlord the zero deposit guarantee scheme acts as an alternative to a traditional security deposit but still allows you to keep the same protection. This reduces the upfront cost of renting for tenants meaning it can speed up the process and you will stand out from competitors. 

How does it work?

For the cost of just a weeks rent tenants can choose to purchase the Zero deposit guarantee rather than pay a traditional deposit. This is a regulated deposit scheme meaning you get the same cover as a six week tenancy deposit and you don't have to pay a penny.

Just like a traditional deposit tenants are accountable for any damage to the property or unpaid rent. f you wish to claim money from the tenant for financial loss or damage due to dilapidations shown in the check-out report, the tenant will be given an option to pay you this figure. If the tenant cannot pay you the agreed figure, Zero Deposit will settle this amount and will seek reimbursement from the tenant directly. 

 

Why should landlords choose zero deposit?

  1. Attracts tenants - Properties that offer the zero deposit scheme often stand out from competitors and get more demand from tenants as they pay less upfront rather than an expensive cash deposit.
  2. Speeds up the process - By reducing the upfront cost the scheme can speed process and reduce void periods.
  3. Fair check out process - The process ensures that disputes have a fair outcome for the landlord.
  4. Provides protection and peace of mind - You are provided with the same cover as a six week tenancy deposit and avoid the risk of falling foul of deposit protection regulations as you don't have to take the deposit from your tenants.
  5. Reduces paperwork - Unlike the traditional security deposit the deposit doesn't need to registered with a deposit protection scheme meaning you will save time and money. 

Zero Deposit is a trading name of Global Property Ventures Limited (10328435), which is registered at Business and Technology Centre, Bessemer Drive, Stevenage, SG1 2DX. Global Property Ventures is an insurance intermediary and is authorised and regulated by the Financial Conduct Authority. You can find details of this at register.fca.org.uk, by searching for the company name or reference number, which is 797026.

The Zero Deposit Guarantee is underwritten by Great Lakes Insurance SE. Great Lakes Insurance SE is a German insurance company with its headquarters at Königinstraße 107, 80802 Munich. Registered with the commercial register of the local court of Munich under number: HRB 230378 UK Branch office: Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Great Lakes Insurance SE UK Branch is authorised by the Bundesanstalt für Finanzdienstleistungsaufsicht and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from Zero Deposit on request.