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Until the emergence of deposit alternatives such as flatfair No Deposit, the only method of protecting a rental property was through a traditional deposit.
Whilst there are similarities between the two, our end of tenancy process includes some noticeable differences. At flatfair, our partners have experienced the end of tenancy process using both deposit options, and they provided their opinion on the differences in relation to simplicity and fairness.
A simpler, fairer process
In a survey of 120 lettings professionals, 46% of agents and operators claim the end of tenancy process is simpler and fairer with flatfair No Deposit, this was the most popular response.
Agents and operators provided reasons to support their answer, and the most frequent response centred around the ease and transparency of negotiating charges directly on our platform. This feature is unavailable to tenants using a traditional deposit, but helps to facilitate a fair process for tenants and landlords to upload evidence and counter charges to find a swift resolution which is agreed by all parties.
Here are some of the other reasons provided by agents and operators:
Swift recovery of money for landlords
One of the other key differences between flatfair No Deposit and traditional deposits is our market-leading protection. This means at the end of tenancy, if necessary, landlords are protected for up to 10 weeks worth of damages and/or rent arrears, which is double that of a traditional deposit.
We then work with tenants to make manageable payments in order to fully recover the debts owed to landlords. With a traditional deposit, on the other hand, charges are deducted from the tenants’ deposit after the charges have been agreed and the landlord has to attempt to collect any additional charges themselves.
Our 5 star service is echoed in our reviews
Reviews are incredibly important to us, as they reflect the level of service we provide to all our customers. Our Trustpilot rating is an excellent indication of the success of our end of tenancy process, as we ask our customers to review their experience once their tenancy has ended.
We boast an impressive score of 4.5, which is 0.7 ratings higher than the average for traditional deposit companies.
If you are interested in finding out more about our end of tenancy process or would like to offer your customers our market-leading deposit alternative in 2024, then please enter your details below and a member of our team will be in touch shortly.
