Traditional deposit and deposit alternative now possible via link-up

Deposit alternative provider flatfair has teamed up with mydeposits - and claims to now be the first provider to bring tenancy deposits and deposit alternatives under one roof.

The partnership with mydeposits means that landlords and managing agents will be able to register a traditional deposit on flatfair's platform, in addition to having the option of offering a deposit free alternative for their tenants. 

This means that everything related to deposits - both traditional and deposit free - can be handled on one platform due to the integration with mydeposits. 

“This is of significant benefit to the property sector because it will reduce admin and streamline the rental process, providing a more functional solution for all involved” says flatfair founder and chief executive Franz Doerr. 

flatfair already offers a deposit-free alternative to traditional cash tenancy deposits but the company says it also recognises the importance of promoting greater choice for tenants and landlords. 

“flatfair has always been about choice and we are pleased to collaborate with mydeposits to ensure that is exactly what we offer to both tenants and landlords.  This is an exciting time, reflecting the development and growth within the market” says Doerr.

Kate Mutter-Bowen, head of tenancy deposit protection at mydeposits says: “Our custodial offering is already a popular choice for both landlords and agents. We are delighted to offer our facility to flatfair through our simple and integrated API solution”.