Sixty-branch agency KFH, one of London’s largest operators, is the latest property industry player to invest in Zero Deposit.
The company joins several other industry big hitters including Andrews, Connells, LSL, Countrywide, Knight Frank, Foxtons and Acorn all of whom are shareholders in the alternative deposit business.
Zero Deposit has also received money from the government’s Future Fund, and the business says 75% of the UK’s top 50 letting agencies who have selected a deposit replacement partner use its platform.
“We’ve partnered with Zero Deposit since June 2018 so have witnessed first-hand the demand for the product and the value it provides to our lettings branches,” says Paul Masters (left), Group Operations Director of KFH.
“The positive trajectory of the deposit replacement market will only accelerate and backing Zero Deposit helps us to capitalise on that, while ensuring landlords and tenants have the security of a market leading product.”
The platform was launched in early 2018 led by former Zoopla sales chief Jon Notley, who stepped back from his CEO job in October last year to take a non-exec role. He made way for a former PrimeLocation marketing chief Sam Reynolds (pictured).
He says 60,000 tenants have now used its tenancy deposit alternative to move home and provided landlords with protection worth £50 million.
“We see daily examples of how moving with a Zero Deposit Guarantee makes renting easier, faster and fairer. Working with KFH and their enhanced market presence in London makes that a reality for even more landlords and tenants,” says Reynolds.