Zero Deposit Tenancies
Zero Deposit helps tenants reduce the upfront cost of renting, which can help speed up the process and reduce void periods.
A Zero Deposit Guarantee provides the same cover as a six week tenancy deposit and is underwritten by Great Lakes Insurance SE.
By giving you the potential to attract a wider audience of tenants, you can increase demand and reduce the time taken to rent.
Tenants remain fully accountable for looking after your property and making rental payments, with Zero Deposit making payment to you in the event of a fair claim at the end of the tenancy. Claim disputes are settled by The Dispute Service (TDS) and paid to you within two working days.
A Zero Deposit Guarantee is not a traditional deposit, so it doesn’t need to be registered with one of the deposit protection schemes, which can save landlords time and money.
Free up cash by paying a fee, equivalent to one week's rent.
Zero Deposit gives tenants an alternative to the traditional deposit.
Avoid having to fund a second deposit when moving from one rental property to another.
- You review your Zero Deposit Guarantee quote online, having been introduced to us by your letting agent.
- You make a payment equivalent to one week’s rent, provide your Direct Debit details and then the paperwork is generated and copies sent to all parties.
- Your landlord gets a guarantee for the same amount as a six week tenancy deposit and you remain liable for any damage or financial loss due to them.
- At the end of the tenancy, the inventory and check-out are completed and if you leave the property in a satisfactory condition with no outstanding rent nor bills, there is no further action required.
- If there is any damage to the property or unpaid rent, you need to reimburse the landlord yourself. If you dispute the landlord's claim, you and the landlord will be asked for evidence which will be sent for expert evaluation.
- If the expert finds in the landlord’s favour, we settle the claim with your landlord and seek reimbursement from you directly. If you fail to reimburse us at this point, you may be liable for recovery costs and it could impact on your credit history.
There is an annual admin fee of £26 per tenancy collected every year by Direct Debit from the first anniversary
For more information visit zerodeposit.com or call 0333 200 2541
Zero Deposit is a trading name of Global Property Ventures Limited, the head office of which is at Business & Technology Centre, Bessemer Drive, Stevenage, SG1 2DX (company number 10328435). Global Property Ventures is authorised and regulated by the Financial Conduct Authority and can be found on the Financial Services Register (firm reference number 797026).
The Zero Deposit Guarantee is provided by Great Lakes Insurance SE, UK branch office. Great Lakes Insurance SE is a German insurance company with its headquarters at Königinstraße 107, 80802 Munich. It is registered with the commercial register of the local court of Munich under number: HRB 230378. The UK Branch office is at Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Great Lakes Insurance SE UK Branch is authorised by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority.