What is a deposit replacement scheme?

In a deposit replacement scheme, the tenant pays a fee to cover the landlord against financial loss instead of making a cash deposit. With the Zero Deposit™️ Guarantee, tenants pay the equivalent of around one week’s rent plus a set up fee of £59.99 at the start of the tenancy and if they continue to live at the property, they will also pay a £17.50 annual fee. The landlord benefits from enhanced protection beyond the traditional five-week tenancy deposit and any end-of-tenancy disputes are handled by The Dispute Service (TDS): a trusted, independent dispute resolution service. 

Once The Dispute Service (TDS) adjudication is complete and we receive the final report, we will arrange payment to the landlord in line with the decision. We will then recover any amounts due from the tenant in accordance with the adjudication outcome.