Our partnership with Spicerhaart: bringing deposit-free renting to the nation

Young female with outspread arms on a balcony

If you haven’t already heard, we recently partnered with the UK’s largest independent lettings agent, Spicerhaart. As a result, tens of thousands of existing and prospective tenants across the country are set to benefit from deposit-free renting! Spicerhaart has over 100 lettings branches and offers thousands of available properties through its local brands: haart, Felicity J Lord, Darlows, Haybrook, Butters John Bee and Brian Holt. It’s an incredible opportunity for us all!

Why flatfair?

More than 21% of British households are now renting privately – growing to 24% by 2021 – and the average deposit has risen to £1,254 (£2,128 in London!). These are pretty incredible numbers, so there clearly couldn’t be a better time for us to bring our zero deposit scheme to the masses. With flatfair, the huge upfront expense is replaced with a membership fee of just 1 week’s rent (split between the household), nothing more. Tenants also don’t have to worry about covering the cost of any damages until the end of their tenancy. We call it ‘pay when you leave’, and full transparency is provided into what’s being charged for and why.

It won’t just be tenants who benefit from the partnership either. Between January and April 2018, 35% of landlords experienced a void period – 2% more than the three months before. This can be really damaging for business, but with flatfair’s faster payouts and double protection (‘double’ as in twice the amount offered by a 6-week deposit) we’re going to see far less of this as the norm.

Here’s what Paul Sloan, Lettings Development Director at Spicerhaart had to say about working with our deposit alternative:

This is terrific news for our tenants, as there are huge benefits for them. Not only will they be able to dramatically reduce the upfront costs between tenancies by avoiding having to pay double deposits but they’re also protected against any unfair claims.

“This is good news for landlords too. We have finally found an innovative product that landlords can have confidence in because of its extra protection and faster payouts, so if something goes wrong they can still re-let their properties quickly.

Rent deposit-free

If you’re renting through one of the Spicerhaart brands we mentioned, speak with your agent to find out whether your home comes with deposit-free renting. Not only does flatfair work for new tenants moving into rented property, but existing tenants can convert their deposits and release all that locked-up cash.