Landlords Zero Deposit
If you're a Landlord, you can reduce the void periods by lowering the upfront cost for your tenants with the Zero Deposit Guarantee and will still be able to keep the same protection as a traditional security deposit.
How it works
1. Zero Deposit offer
If you choose to take part in to the scheme, the tenant will be given an option of paying the traditional cash deposit, or they can chose to purchase the Zero Deposit guarantee scheme. The cost to the tenant is equivalent to one weeks rent. The landlord is not required to pay anything.
2. End of tenancy Inventory & Checkout
If the property has been returned in an acceptable state and no claim is to be made, the Zero Deposit guarantee will cease. If you wish to claim money from the tenant for financial loss or damage due to dilapidations shown in the check-out report, the tenant will be given an option to pay you this figure. If the tenant cannot pay you the agreed figure, Zero Deposit will settle this amount and will seek reimbursement from the tenant directly.
3. Disputes with tenants
If the tenant does not agree with the proposed figure you wish to claim, you will need to provide evidence of your claim which will be given to the TDS for expert evaluation. The tenant will be asked to do the same. If JNP are managing the property on your behalf we will handle this for you.
4. Claims resolved
The experts from the TDS will adjudicate how much the tenant will be required for pay. If found in your favour, Zero Deposit will settle this amount and will seek reimbursement from the tenant directly. If the tenants fail to reimburse Zero Deposit this will impact their credit history.
Why choose Zero Deposit?
The rental process is quicker
A Zero Deposit helps tenants reduce the upfront cost of renting, which can help speed up the process and reduce void periods.
Security & Protection
A Zero Deposit Guarantee provides the same cover as a six week tenancy deposit.
Helps to attract a wider audience
By giving you the potential to attract a wider audience of tenants, you can increase demand and reduce the time taken to rent.
Supports accountable tenants
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 or your agent within two working days.
Paperwork & hassle reduced
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.
Zero Deposit is a trading name of Global Property Ventures Limited (10328435), which is registered at Business and Technology Centre, Bessemer Drive, Stevenage, SG1 2DX. Global Property Ventures is an insurance intermediary and is authorised and regulated by the Financial Conduct Authority. You can find details of this at register.fca.org.uk, by searching for the company name or reference number, which is 797026.
The Zero Deposit Guarantee is underwritten by Great Lakes Insurance SE. Great Lakes Insurance SE is a German insurance company with its headquarters at Königinstraße 107, 80802 Munich. Registered with the commercial register of the local court of Munich under number: HRB 230378 UK Branch office: Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Great Lakes Insurance SE UK Branch is authorised by the Bundesanstalt für Finanzdienstleistungsaufsicht and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from Zero Deposit on request.