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Zero Deposit Renting

For Tenants

Pay less upfront and gain greater freedom when moving home

Moving home can be costly, making it hard to find your deposit, first month’s rent and the other costs of moving. A Zero Deposit Guarantee costs the equivalent of one week’s rent and replaces the traditional tenancy deposit, aiming to make renting more affordable.

Pay less upfront: Free up cash by paying a fee equivalent to one week’s rent

More choice: Zero Deposit gives tenants an alternative to the traditional deposit

Greater freedom when moving: Avoid having to fund a second deposit when moving from one rental property to another

How it works

1. You review your Zero Deposit Guarantee quote online, having been introduced to us by your letting agent

2. 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

3. Your landlord gets a guarantee for the same amount as a 6-week tenancy deposit and you remain liable for any damage or financial loss due to them

4. 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 or bills, there is no further action required

5. If there is any damage to the property or any unpaid rent, you will need to reimburse the landlord yourself. If you dispute the landlord’s claim, you and the landlord will be asked for evidence which will then be sent for expert evaluation

6. 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

Important Information

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.

Zero Deposit Renting

For Landlords

Security & Protection for landlords

A Zero Deposit Guarantee can replace a traditional tenancy deposit, giving landlords the same cover and protection as having a tenancy deposit in the bank, whilst making renting more affordable for tenants.

Tenants pay the equivalent of one week’s rent for a Zero Deposit policy, which is non-refundable and gives you effectively the same cover as a 6-week tenancy deposit. Tenants remain fully accountable for any damages or unpaid rents.

In the event of any financial loss or damage due to you, this is settled by the tenant or if they dispute the claim the evidence is sent for expert evaluation. If found in your favour, we settle the claim with you and recover the costs from the tenants directly, along with any recovery costs. Non-payment by the tenant at this stage may impact on the tenants credit history.

Why would landlords choose Zero Deposit?

Speeds up the rental process

Zero Deposit helps tenants reduce the upfront cost of renting, which can help speed up the process and reduce void periods.

Provides security & protection

A Zero Deposit Guarantee provides effectively the same cover as a 6-week tenancy deposit and is underwritten by Great Lakes Insurance SE.

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 us only 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 we will pay you within two working days.

Reduces paperwork & hassle

A Zero Deposit policy 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.

To help make your property stand out to the widest possible tenant audience speak to a member of our team or 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.

Zero Deposit Renting