Zero Deposit Guarantee can replace a traditional tenancy deposit. It provides the same level of protection while making it more affordable to tenants. Tenants will still be referenced through the usual process and remain responsible for any financial loss or damage covered by their Tenancy Agreement.
When a landlord offers a Zero Deposit Guarantee, tenants can decide whether to proceed with this or opt for the traditional deposit. Zero Deposit offers cover up to the value of six week’s rent.
Why choose Zero Deposit?
Protected and fair
Zero Deposit is regulated by the Financial Conduct Authority, so tenants and landlords must be treated fairly and reasonably.
Less hassle and paperwork
This form of protection is a guarantee, not a traditional deposit and therefore is not required to be registered with one of the deposit schemes thus saving time for both tenants and landlords.
Any claims are referred to the TDS to be adjudicated and landlords receive fair pay outs within two working days alleviating long waiting times for settlements.
For further information on Zero Deposit, read the full guides below or alternatively, contact us to discuss.
Zero Deposit is a trading name of Global Property Ventures Limited (10328435), which is registered at Business and Technology Centre, Bessemer Drive, Stevenage, SG1 2DX. Global Property Ventures is an insurance intermediary and is authorised and regulated by the Financial Conduct Authority. You can find details of this at register.fca.org.uk, by searching for the company name or reference number, which is 797026. The Zero Deposit Guarantee is provided by Great Lakes Insurance SE, UK branch office. Great Lakes Insurance SE is a German insurance company with its headquarters at Königinstraße 107, 80802 Munich. It is registered with the commercial register of the local court of Munich under number: HRB 230378. The UK Branch office is at Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Great Lakes Insurance SE UK Branch is authorised by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority.