100-branch Southeast estate agency signs up to alternative deposits

Deposits alternative platform Flatfair has landed a major industry deal after signing up Southeast of England multi-brand estate agency Arun Estates, saying the cost-of-living crisis will make products like this essential for the UK’s increasingly cash-strapped renters.

Both companies claim that ‘finding five weeks’ rent for a deposit is impossible for many households.

The Southeast, which is where Arun Estates operates, has the second-highest average rents in the UK where a typical tenant would need to find more than £1,300 for a rental deposit.

The two companies say the deal will see tenants offered a deposit alternative product through its four brands which Wards (pictured), Cubitt & West, Douglas Allen and Pittis.

Deposits

Flatfair’s product, which is one of several on the market, enables renters to pay a one-off flat fee instead of stumping up the usual five weeks’ rent as a deposit.

At the end of the tenancy, any payment for damages is mutually agreed and arbitrated by a third party.

Jason Bunning (pictured), MD of Arun Estates, says: “Caring for our customers is at the core of our business, and part of that is offering them as much choice as possible when it comes to renting.

“Flatfair’s solution comes at a time when many are looking to save money wherever possible, and we have no doubt that our customers will appreciate having the option to use its No Deposit service.”

Gary Wright (pictured, right), co-CEO of Flatfair, says: “As the largest independent estate agent in the Southeast with more than 100 branches, partnering with Arun Estates is an important step in extending our solutions throughout the region.”