Is a no deposit rental scheme right for you?

Tenants | Mon 23 Mar 20

Considering a no deposit rental? Perhaps you’re trying to weigh up the pros and cons before you take out a new tenancy agreement? We don’t blame you! After all, moving is always a big decision and it’s worth doing your research before you take the plunge.

So, is a no rent deposit option right for you? With the average deposit in England and Wales now exceeding £1,041, and deposits in London typically around £1,750 (as reported on The National Landlords Association), the opportunity to cut down your rental costs and put that money towards some new furniture is surely a tempting one.

Let’s look at some of the reasons why no deposit rental properties make sense.

They Benefit You and Your Landlord

As landlords are promised greater protection than they receive with the capped five-week security deposit, a no deposit rental scheme makes perfect sense for all involved. You can move into a property quicker and they can fill their property quicker – moving really is win-win for everyone..

There’s Less Hassle When You Move Out, Too

When you’re ready to move on, you’ll want the transition to be smooth. With a Zero Deposit™ no deposit rental properties scheme, you can rest assured it will be.

Our rental scheme is regulated by the Financial Conduct Authority (FCA), while our claims process (should you need to utilise it) is designed to give everyone peace of mind.

If, when you’re ready to move out, there are any damages or unpaid rent you will still be liable to pay for them. Any disputes that can’t be resolved will be referred to and handled fairly by the The Dispute Service (TDS).

There Are No Risks

If you’d like some more reassurance that the Zero Deposit Guarantee comes risk-free for landlords and tenants, take a look at our independent reviews on TrustPilot. Discover what others think of our product and learn how they’ve been able to spend more money on the things they love, as a result of renting a no deposit property through Zero Deposit.