Deposit Alternative firm joins Propertymark suppliers...

A deposit alternative service has been added to Propertymark’s industry supplier list.

Tenants can purchase a Zero Deposit Guarantee from £7.50 upwards upfront, plus an additional set up fee. Propertymark describes this method as “a win-win for all parties involved as landlords receive protection equalling six-weeks of rent, even after the deposit cap, plus the benefits and security of a regulated product.”

As part of Propertymark membership, members get access to offers from a range of industry suppliers.

Propertymark members will get guaranteed commission for the first two months of the new agreement with Zero Deposit which will ensure they’re earning sufficiently while embedding the new partnership.

Jason Lee, head of commercial at Propertymark, says: “We are extremely happy to welcome Zero Deposit to our industry supplier team which offers an increasingly popular and secure deposit method which is proving invaluable, especially in the current housing and wider economic climate.

“We want to ensure our members get the ultimate value for money and have access to the best PropTech suppliers and deals in the marketplace.”

And Zero Deposit chief executive Sam Reynolds adds: “We’re delighted to join the Industry Suppliers and offer Propertymark members the benefits of a fully regulated deposit alternative. At Propertymark One, we’re introducing members to our Claims AI where claims are paid within just six days of submission. Radically faster than a typical end of tenancy and a far better outcome for landlords, tenants and our partners.”