No hidden fees, no agenda and total transparency... Why flatfair benefits tenants as a deposit alternative

A recent article by this is money highlights the dark side of tenant replacement schemes offered by insurance-based products. Claire, a single mother with three children, took the no deposit option for a monthly fee of £76.80. Having ended the tenancy early due to the poor condition of the property she was shocked to discover that she’d paid £537.60 for the no deposit option over seven months in the house.

As an alternative to tenancy deposits that operates as a proptech platform as opposed to insurance, flatfair offers tenants the option to move into their rented property quickly and safely with no recurring fees so tenants can make the most of our affordable product.

Daniel Jeczmien, flatfair’s COO, comments: “We have always been concerned about some operators in the market who are structuring the cost to tenants in a disproportionate way or forcing tenants to take on additional insurances as a prerequisite. We believe the costs to the tenant should be proportionate to the benefit and there needs to be a clear differentiation between insurance-based companies who are charging tenants excessive or recurring fees and technology firms, like ourselves, where tenants are charged a one-off transparent fee without any hidden costs. We have been regarded as one of the best tenancy deposit alternatives in the market and it’s clear to see why.”

Hannah Slater, Policy and Public Affairs Manager at campaign group Generation Rent, was also featured within the article and has spoken of flatfair on BBC Radio 4 “Clearly there’s a niche in the market for products like flatfair, which shows what a challenge it is for tenants to come up with hundreds or even thousands of pounds at the beginning of a tenancy,” says Hannah. “There’s a real spectrum of products out there and flatfair is on the better end.”

Find out why we’re the home of deposit-free renting, discover more at flatfair.