New research has shown high demand among tenants for deposit replacement schemes.
Your Move found that over half of the 3,752 adults surveyed would be interested in an alternative approach to tenancy deposits.
This includes zero deposit schemes where the tenant may pay a non-refundable fee of one week’s rent to move in, rather than an upfront deposit.
The fee acts as an insurance guarantee for the landlord that, should the tenant be responsible for any loss or damage, the scheme will pay the landlord compensation for this and recover the costs from the tenant directly.
In addition, of all those surveyed, 70% would be influenced by the choice of such schemes when deciding whether to rent a specific property.
Helen Buck, executive director for estate agency at Your Move parent company LSL, said: “There is clearly demand for an alternative to cash lump-sum deposits.
“With more and more people now choosing to rent, it’s increasingly important that lettings agents are able to cater to tenants of all types, providing them with both choice and flexibility.”
Tenants were taking part in a broader Your Move survey commissioned to find out about the behaviours and attitudes of renters.
Your Move offers tenants the Zoopla-backed Zero Deposits scheme.
Comments (4)
Very interesting post, I will regularly monitor information.
https://www.gomovies123.to/
The same Your Move that are due to lose their hugely over inflated tenant fees come 1st June. No matter how they are packaged 0 deposit schemes are a risk to both tenant and landlord alike and could end up as the next compensation pay out scandal
My first reaction, this was a plug by an insurance company and then LSL name came up ….. I was right, sounds like more interest in an insurance referral fee scam.
“Tenants dont want to pay a deposit”…..shocker!