Get ahead by offering deposit-free renting

Get ahead of your competition by offering deposit-free renting.

Offer your tenants choice and your landlords peace of mind with our Deposit Replacement Membership by proven deposit experts.

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Why offer a Deposit Replacement alongside a cash deposit?

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Remove deposit protection fees

Reduce your agency running costs by eliminating deposit protection fees.

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Reduce client money

Get rid of your responsibility of looking after other peoples’ money and get back to doing whatever it is that makes your business unique.

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Eliminate risk of fines

Using a deposit replacement removes the threat of deposit related fines as you do not collect any deposit monies.

No money icon

Remove deposit protection fees

Reduce your agency running costs by eliminating deposit protection fees.

Reduce client money

Get rid of your responsibility of looking after other peoples’ money and get back to doing whatever it is that makes your business unique.

Eliminated icon
No icon

Eliminate risk of fines

Using a deposit replacement removes the threat of deposit related fines as you do not collect any deposit monies.

A deposit replacement for professionals

Digital first deposit replacements

Offer deposit replacements however suits your business. Our online portal is optimised for professional businesses, or request access to our APIs to integrate with your own digital experience.

Reduce your expenses

Deposit replacements are free for agents and landlords to offer. A typical agency branch could save up to £2,000 in deposit protection fees.

Attract financially secure tenants

An empty home is the most expensive risk for a landlord. Our deposit replacement puts a tenant’s money back into their pocket which means they are more financially resilient to react to and recover from life’s challenges.

A deposit replacement for professionals

Digital first deposit replacements

Offer deposit replacements however suits your business. Our online portal is optimised for professional businesses, or request access to our APIs to integrate with your own digital experience.

Reduce your expenses

Deposit replacements are free for agents and landlords to offer. A typical agency branch could save up to £2,000 in deposit protection fees.

Attract financially secure tenants

An empty home is the most expensive risk for a landlord. Our deposit replacement puts a tenant’s money back into their pocket which means they are more financially resilient to react to and recover from life’s challenges.

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Flexible

You don’t need to wait for tenants to get their original deposit back before moving into your property.

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Impartial

Our team of award-winning, independent adjudicators reach fair decisions based on the evidence they receive.

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Fast

We will directly pay any awarded sums to the landlord and take responsibility for collecting it from the tenant.

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Experts

Offer the only deposit replacement on the market built by deposit experts with over 14 years of experience.

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Competitive

Appeal to a broader pool of tenants that are actively looking for flexible financial solution.

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Flexible

You don’t need to wait for tenants to get their original deposit back before moving into your property.

Impartial

Our team of award-winning, independent adjudicators reach fair decisions based on the evidence they receive.

Impartial icon
Fast icon

Fast

We will directly pay any awarded sums to the landlord and take responsibility for collecting it from the tenant.

Expert

Offer the only deposit replacement on the market built by deposit experts with over 14 years of experience.

Expert icon
Competitive icon

Competitive

Appeal to a broader pool of tenants that are actively looking for flexible financial solution.

How does it work?

Moving in a new tenant

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Step 1

Reference

All tenants that are offered a deposit replacement must meet our minimum referencing criteria. You should keep the evidence of your checks as we may ask to see them.

Step 2

Invite tenant

From your portal you add the property and tenancy details. You then invite your referenced tenants who complete the process by setting up their membership.

Step 3

Inventory/ Check In Report

On “move in day” make sure you create an inventory and conduct a check-in report detailing the condition of the property. These documents are fundamental for a smooth exit at the end of the tenancy.

Step 1

Reference

All tenants that are offered a deposit replacement must meet our minimum referencing criteria. You should keep the evidence of your checks as we may ask to see them.

Step 2

Invite tenant

From your portal you add the property and tenancy details. You then invite your referenced tenants who complete the process by setting up their membership.

Step 3

Set up membership

You hand over your deposit to your landlord or agent as usual

When your tenant moves out

Step 1

End the membership

When you know the tenancy is ending you can log into your portal to start the end of your tenant’s membership. Your tenant can also start this step.

Step 2

Confirmation

We will request your tenant confirm that they will be leaving the property. If your tenant started this process you will be invited to confirm.

Step 3

Check-Out

When your tenant moves out you should conduct a Check-Out report. These documents will identify any changes in condition of the property and will be compared against the Inventory and Check-In report to identify any settlements your tenant may owe you.

Step 4

Settle

After assessing the Check-Out report you may request settlements from your tenant – just like you would request to make deductions from a cash deposit. It is your tenant’s responsibility to settle these requests. If a settlement cannot be agreed you can escalate the request to our Resolution Team to assess the evidence and determine a value.

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Step 1

End the membership

When you know the tenancy is ending you can log into your portal to start the end of your tenant’s membership. Your tenant can also start this step.

Step 2

Confirmation

We will request your tenant confirm that they will be leaving the property. If your tenant started this process you will be invited to confirm.

Step 3

Check-Out

When your tenant moves out you should conduct a Check-Out report. These documents will identify any changes in condition of the property and will be compared against the Inventory and Check-In report to identify any settlements your tenant may owe you.

Step 4

Settle

After assessing the Check-Out report you may request settlements from your tenant – just like you would request to make deductions from a cash deposit. It is your tenant’s responsibility to settle these requests. If a settlement cannot be agreed you can escalate the request to our Resolution Team to assess the evidence and determine a value.

You are responsible for

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Check in/out report

Any money you owe must be settled when you leave the property

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Minimum referencing

All tenants need to meet our minimum referencing standards.
Find out more

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Dispute resolution

It is up to you to start the Resolution process in your portal.

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Built by rental experts

Part of the Hamilton Fraser family

Hamilton Fraser is a family of specialist finance and regulatory brands for the private rented sector. From referencing and deposits (or replacements), all the way through to possessions, our brands cover the entire life cycle of a tenancy.

Built by the team that delivers mydeposits, the government authorised tenancy deposit protection scheme.

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