How much does it cost?
This costs you as an agency and your client landlord nothing, the premium is paid by the tenant to us, in exchange for Rental Deposits paying their deposit. We will also pay a commission to your agency for every deposit we supply to your tenants, hence increasing your revenue levels.
As you will be aware moving home can be expensive for tenants and hefty deposits often cause delays. If the tenant can save a month's rent or more your properties will stand out from the crowd. Making your properties more desirable to tenants results in higher rents, less void periods & most importantly more letting revenues for your agency. Our aim is to make the lettings process faster and easier for you and your tenants, whilst giving you an edge over other agents.
Why would a tenant need a Tenancy Deposit Payment from Rental Deposits?
The answer to this is simple. All tenants that apply to Rental Deposits must be able to demonstrate their ability to afford to pay the deposit themselves, however it makes financial sense for them to utilise 3rd party capital rather than tieing up their own funds for year, allowing them to keep a large sum of money in their own account for emergencies. Also in many circumstances the tenant has a temporary shortfall in funds due to a delay in receiving their previous deposit back- Rental Deposits offers them the solution bridging that gap.
The procedure is very simple:
Register your agency with us for free, you will then be sent various marketing literature.
Continue advertising your properties as you currently are, but amend the adverts to say in the title "Assisted Deposit Offered" (this will boost interest and viewings. Please click here for a full list of Marketing Aids and Information for your tenants
Once you have secured your suitable tenant, simply ask your tenants to complete our online application. We will then contact you to arrange the payment and answer any questions you may have.
Please make it clear to the landlord that you as an agency are not dealing with the deposit and that should they have any questions relating to this to contact us directly. You as an agent are responsible for the let and management (if applicable) of the property and we accept no liability for this.
References
As the tenancy is an agreement between your agency/client landlord and the tenant, it is your responsibility to take any references you see fit. We will run independent credit checks on the tenants to assess their suitability to be approved for an Assisted Deposit. These checks are for financial loan purposes to be relied on by Rental Deposits only. In order for a Assisted Deposit to be supplied on behalf of a tenant the tenant must meet our criteria. Please click here to view criteria. |
