1. Zero Deposit offer
If you choose to take part in to the scheme, the tenant will be given an option of paying the traditional cash deposit, or they can chose to purchase the Zero Deposit guarantee scheme. The cost to the tenant is equivalent to one weeks rent. The landlord is not required to pay anything.
2. End of tenancy Inventory & Checkout
If the property has been returned in an acceptable state and no claim is to be made, the Zero Deposit guarantee will cease. If 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.
3. Disputes with tenants
If the tenant does not agree with the proposed figure you wish to claim, you will need to provide evidence of your claim which will be given to the TDS for expert evaluation. The tenant will be asked to do the same. If Goodfellows are managing the property on your behalf we will handle this for you.
4. Claims resolved
The experts from the TDS will adjudicate how much the tenant will be required for pay. If found in your favour, Zero Deposit will settle this amount and will seek reimbursement from the tenant directly. If the tenants fail to reimburse Zero Deposit this will impact their credit history.