The looming fees ban has prompted several suppliers to the lettings industry to significantly re-appraise their offering, and the latest to announce changes is Let Alliance.
The referencing and insurance firm, which is based in Chester, has announced the first products to emerge from its ‘Fit for the Future’ initiative announced in April. It’s launch follows consultations with over 200 independent agents.
The new package of products, which the company says has been developed to help agents combat changes brought about by both the tenant fee ban and the way properties are being rented out, includes three key solutions – a ‘Nil deposit’ scheme, free tenant referencing and its existing monthly rent guarantee scheme.
The Nil Deposit scheme offers an insurance-based deposits scheme that provides a guarantee of up to six weeks’ rent when a claim is made against a tenant – paid for by tenants via a fixed fee.
“The Nil Deposit Scheme presents a very different offering to other schemes currently on the market as we replicate the terms and conditions of the current cash deposits registered in the official schemes,” says Andy Halstead, CEO of Let Alliance (pictured)
Let Alliance is also offering a rent guarantee product that includes free referencing, as well as the opportunity to introduce tenant liability and contents insurance to tenants.
The company says three agents have already signed up to the package including London agent Martyn Gerrard, North-West based Ryder & Dutton and Essex and Suffolk firm Boydens.
Between them thy have 30 offices servicing 8,000 tenants and 3,000 landlords.
“The Let Alliance ‘Fit for the Future’ service presents a unique offering for a market being tested by government regulation and red tape,” says Simon Gerrard, Managing Director of Martyn Gerrard (pictured, right).
“We look forward to being one of their first partners, and believe it will bring a multitude of benefits to both our business and customers.”