flatfair Deposits is already making waves in the lettings market

16 October 2023 8728 Views

In September last year, flatfair, a deposit alternative provider, released their latest rental solution called flatfair Deposits, to the lettings market. A year on, it has proven to be a resounding success, achieving several impressive milestones and offering a positive rental experience for thousands of tenants.

Initially piloted with Build to Rent (BTR) industry leader Greystar, flatfair Deposits quickly gained popularity and was adopted across all of their UK BTR sites. Currently, more than 70 agents and operators in the UK, spanning 111 sites and branches, are utilising flatfair Deposits.

These include renowned names in the industry such as Beals, Breckon & Breckon, CGT, Dawsons Property, Fizzy Living, Native Residential, and Touchstone BTR.

By signing up for flatfair Deposits, these companies can now offer both traditional deposits and flatfair's No Deposit solution on a centralised platform, simplifying and automating their deposit process for them to provide improved efficiency.

For customers who choose a traditional deposit, flatfair Deposits automates and manages the entire process, saving an estimated 60 minutes of administration time per tenancy. The growing popularity of flatfair Deposits is evident with £4 million already transacted in traditional deposit payments.

Most importantly, Deposits offers tenants a clear and fair choice on how they wish to rent, which is increasingly important as the cost of living continues to rise. In its first year, flatfair's latest product has given over 6,000 tenants the option to save on upfront move-in costs. And in August alone, 831 tenants chose flatfair's No Deposit option over a traditional deposit, demonstrating its popularity amongst UK renters.

Reflection from myself and the flatfair team

We knew that flatfair Deposits would be an incredibly beneficial product for agents and operators, thanks to its unique efficiency gains and choice. It's been fantastic to see so many new and existing partners signing up to benefit from our latest solution, and I'm excited to see what the next year holds.

Agents and Operators who are keen to explore flatfair’s free innovative solutions can get in touch with me and my team at sales@flatfair.co.uk to find out more.