Hunters’ franchised chain of over 200 branches is the latest big industry name to begin offering its tenants and landlords ‘deposit-free’ renting.
The company has signed a deal with London-based tech firm flatfair to offer the service, which is based on a membership fee that represents a week’s rent paid at the beginning of the tenancy.
Any charges at the end of the tenancy are then taken off a renter’s pre-registered debit card after the sums have been agreed; flatfair uses a third-party dispute resolution service to sort out ‘tricky’ disputes, as the company’s website puts it.
Common claimed benefits for these schemes include happier tenants, who don’t have to scrape together a huge rental deposit, while many says that their landlords are reimbursed for damage to their property more quickly.
“We are pleased to be able to offer tenants an alternative to up-front deposits and believe the pay-as-you-leave approach brings several benefits to both tenants and landlords,” says Carrie Alliston, Hunters’ Lettings Director (left).
“We aim to make the lettings process as easy as possible for our customers and are committed to innovation.
“Flatfair’s digital platform makes registration and resolutions quick, easy and accessible and is a welcome addition to our lettings proposition.”
Like most of its competitors, Flatfair offers agents like Hunters a cut of the membership fee.
“We offer competitive commission rates to agents however, this should not be the primary motivation for using flatfair,” says founder Franz Doerr (left).
“Our core value is to redefine the relationship between the managing agent, landlord and tenant by creating openness and transparency. This ultimately leads to happier tenants and landlords.”
Read more about deposit-free renting services and products.