Streamline tenancy deposits with flatfair Deposits

We are excited to announce the launch of our new product, flatfair Deposits, your protection gateway. flatfair deposits enables you to safely and swiftly lodge both traditional deposits and flatfair No Deposit, all on our secure platform, offering your tenants greater choice when securing their next rental.

What is the problem?

For agents and landlords, processing traditional deposits is an outdated process. It’s often manual, time-consuming and prone to human error. Getting this wrong runs the risk of high penalties – typically three times the deposit amount – and makes it much more challenging to remove tenants.

Our solution

flatfair Deposits automates the traditional deposit process, offering speed and certainty while removing the chance of non-compliance. We estimate that our solution will save agents an average of one hour of admin time per deposit, making agent’s lives significantly easier.

By partnering with TrueLayer, flatfair Deposits transfers the money instantly via Open Banking, with the funds automatically registered with the agent’s preferred certified deposit scheme. All of the relevant administration is managed within our secure platform, reducing the risk of human error and ensuring there is an audit trail.

Tried and tested

We’ve already launched a successful trial with Greystar at their Ten Degrees site in Croydon, and we’re incredibly excited to now release it to the wider market.

Carmine D’Orazio, Building Manager at Greystar, had this to say: “Bringing flatfair’s Deposits platform to Ten Degrees in Croydon has brought significant efficiency gains to a time-consuming process. Deposit alternatives have been a highly requested feature, particularly as the cost of living bites, and having both options in one platform is a much simpler process for our staff.”

So you can be sure that flatfair Deposits is going to add great value to your business and accommodate the growing demand of deposit alternatives, while offering your tenants a greater choice.

Start streamlining your deposit process today, by contacting partnerships@flatfair.co.uk.