Estate agent Spicerhaart partners with deposit replacement startup Flatfair

 
Alys Key
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Tenants can avoid hefty deposits with Flatfair's monthly fee (Source: Getty)

Deposit-free renting provider Flatfair has signed a partnership with the UK's largest independent estate agency Spicerhaart.

The move will bring the platform to a wider audience, as thousands of tenants and landlords gain access to Flatfair's membership service.

The startup offers tenants a single membership fee instead of an expensive tenancy deposit.

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"For far too long, tenants have had to grin and bear it but now they have a choice," explained Chris Phillips, chairman of Flatfair. "Our technology offers a simple, safe and affordable alternative, while keeping the best bits of the government’s deposit protection scheme.

“Flatfair also ensures tenants have an easy, fair and transparent way to pay for – or dispute – claims made by their landlord or letting agent. We’re helping to level the playing field.”

Landlords are also able to gain extra protection should the property be damaged, with up to 12 weeks' rent instead of the government-backed 6-week deposit. Tenants can also challenge claims against their deposits through a dispute resolution process, and can gain discounts for paying rent on time.

Read more: Legal Q&A: What can I do if my landlord overcharges me for repairs?

Spicerhaart's local agent brands include Felicity J Lord, Darlows and Haybrook.

"This is terrific news for our tenants as there are huge benefits for them," said Paul Sloan, lettings development director at Spicerhaart. "Not only will they be able to dramatically reduce the upfront costs between tenancies by avoiding having to pay double deposits but they’re also protected against any unfair claims.

“This is good news for landlords too. We have finally found an innovative product that landlords can have confidence in because of its extra protection and faster payouts so if something goes wrong they can still re-let their properties quickly.”

Read more: Why short term lets in London are an untapped goldmine

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