US built-to-rent giant Atlas Residential is to begin offering tenants at its UK sites the opportunity to use alternative deposits platform Flatfair.
In September Atlas revealed that it would be expanding its operation in the UK with projects in the Middlesex, Sussex, Kent, Hampshire and Lancashire including Bow Square in Southampton, a 279-home development which first opened in September 2017, and a recently-launched 238-apartment development in Salford.
Atlas, which has 75,000 properties around the world, established its first site in the UK two-and-a-half years ago.
Tenants at the Southampton site will be the first to be offered alternative deposits via Flatfair and can move in by using their debit card to pay a one-off membership fee worth only one week’s rent plus VAT, with any end of tenancy charges settled when they leave the property.
Yasmin Luscombe (left), Bow Square Community Director at Atlas Residential, said: “Our mission is to achieve the highest resident satisfaction for all of our projects and partnering with flatfair will accelerate that.
“As we look to expand our UK portfolio, flatfair will help us to ensure that our tenant offering stays at the cutting edge of the sector.”
Mal McCallion, Director of Partnerships at flatfair, said: “We allow tenants to secure a property without large upfront costs allowing them to move in with minimal fuss – whilst also offering industry-leading protection to landlords.
“We’re looking forward to helping both Atlas Residential and its residents be part of what we believe is the future of lettings.”
Flatfair raised £9 million in August this year from major investors including Index Ventures, an early backer of Facebook, Skype, and Just Eat, and the founder of Transferwise.