zero deposit
-
Latest property news
Zero Deposit signs exclusive partnership with Residential Landlords Association
Landmark deal sees Jon Notley's alternative deposit guarantee offered to RLA's 35,000 landlord members.
Read More » -
Latest property news
Cash crisis! Nationwide calls for radical reform of rent deposits
The Nationwide has today called for the rental deposits system to be reformed after revealing that it takes renters on average nearly two months to get their deposits back after their tenancy ends and that one in five have to wait more than three months. The building society is calling for greater consistency in the treatment and return of deposits so that tenants can get their deposit back faster, and a more practical approach by landlords and letting agents to handling them. “We need to consider more pragmatic solutions, including transferring deposits from one tenancy to the next, providing appropriate short-term loans or a guarantee”, says Paul Wootton (below), Nationwide’s Director of Specialist Lending. “Nationwide is already working with other organisations who are equally aware of the need for a practical approach that meets the needs of both tenants and landlords, without being an obstacle to moving home.” Nationwide’s research among 2,000 renters found that 4% of those canvassed reported waiting for more than six months for a rent deposit to be returned, while more than a third of renters had previously lost some or all of their tenancy deposit. The most common reasons for deposit deductions are property cleaning,…
Read More » -
Latest property news
Zero Deposit signs up Foxtons and will ‘soon’ be in 3,000 branches
Insurance-backed rental deposits alternative Zero Deposits has signed up leading London agent Foxtons and national chain Your Move.
Read More » -
Latest property news
Upad changes its fee structure to reflect what ‘landlords really want’
This is the second time the online-only lettings agency has changed the way it charges landlords this year.
Read More » -
Features
The zero option
A raft of new products aims to replace tenancy deposits, Andrea Kirkby reviews the current offerings and where it may all end.
Read More » -
Latest property news
Townends to offer tenants and landlords Zero Deposit service
London and Home Counties agency Townends has decided to begin offering tenants and landlords the Zero Deposit service.
Read More » -
Latest property news
Over 60% of tenants offered insurance-based rental deposits take it up
Over sixty percent of tenants offered an insurance rather than cash-based rental deposit scheme at one of London’s largest new-build rental apartment developments have chosen to do so, it has been claimed. Criterion Capital, one of the UK’s largest Built-to-Rent operators and a major client of letting agent the Acorn Group, has made the claim for the first phase of its Delta Point scheme in Croydon, which eventually will bring 404 rental units to the market. The service is being provided by Zero Deposit, the Stevenage-based proptech firm co-founded by Jon Notley. “There is no question that Zero Deposit is helping to make our properties more attractive to potential tenants, speeding up the process and resulting in happier tenants when they move in,” says Karl Elliott, Head of Portfolio at Criterion Capital. Rental deposit Acorn Group, which includes four agent brands – Langford Russell, John Payne, Unique and Acorn – is one of South East London’s larger agency groups and has a total of 31 offices. All of these have now rolled out the Zero Deposit product. The agency was one of the four industry big hitters to give Zero Deposit its backing in February alongside Connells, LSL and Knight Frank.…
Read More » -
Latest property news
Jon Notley’s Zero Deposit launches with backing from four key agents
Tenant deposits alternative Zero Deposit has launched, several months after it was originally expected kick-off, as deals with several key agents were negotiated. Co-founded by Jon Notley, the former commercial director at ZPG, Zero Deposit now says it has the financial and distribution backing of Connells, LSL, Knight Frank and the Acorn Group. “The robust nature of its offering is why we have given it our backing,” says Tim Hyatt, Head of Lettings at Knight Frank (pictured, left). “Given the constant raft of legislative changes taking place in the lettings industry on an almost monthly basis, it is great to see such a positive, well-executed initiative coming to the market.” Zero Deposit also has deals set up with the insurance company providing cover for its product, Munich RE as well as ZPG and TDS, which is providing its dispute resolution. 1,000 branches The agent deals are arguably the most crucial, giving Zero Deposit access to tenants renting properties through some 1,000 branches across the UK. This morning’s launch is restricted to the four named agents backing the venture and who will now be rolling out the Zero Deposit product, although Jon Notley says after a few weeks his company will…
Read More » -
Latest property news
ZeroDeposit start-up receives total £5m funding
Zero Deposit, the alternative tenant deposit scheme being set up by former ZPG commercial director Jon Notley has received a second round of funding taking the total invested so far to £5 million after it secured commercial and partnership deals with insurer Munich Re and ZPG. Zoopla’s parent company ZPG initially invested £250,000 in Notley’s start-up in May, a month after Notley was appointed as a director of Global Property Ventures, the Stevenage-based company behind Zero Deposit. Jon Notley (pictured, left) is joined at the start-up by Simon Embley, the former CEO of Your Move, and Gavin Wiseman and Ben Austin, both serial start-up entrepreneurs and co-founders of removals comparison website Buzzmove. The new investors backing Zero Deposit are Grenville Turner (pictured, right), the former CEO of Countrywide and JamJar Investments, who set innocent drinks and now also back deliveroo and graze. The two other investors are Vanneck Ltd and KM Capital. Such early and high-profile funding is unusual to say the least partly because start-ups normally need to at least launch before receiving a second round of funding. Zero Deposit, which says it will pay agents referral fees, currently features a holding page inviting tenants to register their interest,…
Read More »
