Why aren’t more agents offering their customers a choice of deposits?

At flatfair, we are renowned for our market-leading deposit alternative, No Deposit, but did you know we also offer a product which provides tenants with the freedom to choose a traditional deposit alongside our No Deposit option?

flatfair Deposits provides a valuable choice to customers during a time when affordability is continuously stretched.

Our latest data from flatfair Deposits shows a significant shift in tenant preferences, with a growing number choosing No Deposit over a traditional deposit.

In the space of a year, No Deposit plans have increased by 9% to account for 51% of total plans selected, meaning it is now the preferred choice for renters.

In a market traditionally dominated by traditional deposits, these figures will be somewhat surprising for many in the industry.

We asked 120 of our partners which benefit they value the most from offering flatfair.

Nearly 43% of them said that offering their tenants and landlords a choice is the number one benefit to offering our No Deposit solution, placing it higher in importance than standing out in the industry and increasing revenue.

But despite choice becoming increasingly important and valued in the rental industry, there still remain more agents and operators who do not offer a deposit alternative than those who do.

Some of the key reasons for agents and operators to not offer a deposit alternative may be due to these common misconceptions:

But our partners at CGT, Dawsons Property, and Knight Edmonds provide their feedback and experiences to explain why this is not the case, and that flatfair simply gives their customers more choice and flexibility when renting a new home.

Insights from industry professionals: “Our partners put common flatfair myths to bed”.

If you are interested in offering significantly lower upfront move-in costs to your tenants and market-leading protection to your landlords, while saving time on traditional deposits, then please fill out the short form below and our team will be delighted to give you a no obligation demo for flatfair Deposits.