Why should I offer a no deposit option to my tenants and landlords?

Tenants are attracted to a deposit replacement scheme because it allows them to move in more quickly, without having to save or wait for their previous deposit to clear. It also gives them access to much-needed funds that would otherwise be locked away in a cash deposit. Landlords experience fewer void periods, have access to a wider range of tenants and are covered for up to six weeks’ rent under the scheme. If a dispute is settled in their favour, landlords are refunded in as little as two working days of bank details being provided. Both tenants and landlords appreciate having less admin to deal with at the start of the tenancy.