Helping our partners thrive in a challenging year

2023 has been a whirlwind yet triumphant year for flatfair and the wider lettings industry, characterised by imminent changes to the Renters Reform Bill delivering increased legislation, along with on-going challenges such as increasing mortgage rates and the cost of living crisis.

But this year, more agents and operators than ever before, have discovered that the benefits of deposit alternatives like flatfair No Deposit will help them to navigate and thrive through this period of uncertainty.

This year alone, we partnered with more than 100 new agents and operators, including many of the biggest and best names in the lettings and Build to Rent industry:

With lots of new agents and operators offering our deposit alternative during tough economic conditions, we have seen more No Deposit plans than ever before. As a result, far more tenants secured their new home with lower upfront move-in costs compared to last year. Which has enabled them to make much needed savings while other living costs continue to rise.

And despite increased regulation, rent arrears and void periods, we also saw a record number of landlords using No Deposit on their property. This is because our solution provides them with market-leading protection on their property, and reduces void periods by attracting a wider pool of tenants.

The support of our fantastic partners enabled us to reach some phenomenal milestones, protecting landlords for more than £100 million and saving tenants a whopping £36.7 million by choosing flatfair No Deposit.

Along with the heaps of new agents signing up to offer our deposit alternative, we also saw a huge take-up from new and existing partners for our newest rental solution, flatfair Deposits. Released to the market in October last year, Deposits is the all-in-one deposit solution for agents and operators, allowing them to manage all deposit options in one centralised platform.

Our fantastic benefits of improved efficiency and increased revenue, all while offering customers a choice was a compelling factor for 66 new partners to sign up. The growth of our latest solution is demonstrated with over £4.7 million transacted in traditional deposit payments alone.

All our proud achievements this year could not be possible without the support and hard work of our special team, who have continued to exceed expectations for our partners.

Our Collections team ensured a first-class service to partners and their landlords, recovering close to £1 million so their properties can be quickly reinstated, ready for their next tenants to move-in.

And our Customer Support team delivered swift and efficient help yet again, with a 94.9% customer satisfaction rating on email enquiries and 96.8% on our live chat, with an average wait time of just 84 seconds.

Finally, we want to say a massive thank you to all of our partners who have continued to help revolutionise the rental industry. We have lots of exciting plans for 2024 which will hugely benefit our partners and we can’t wait to share them with you in the new year.