Deposit-Free Renting with Flatfair
Premier Locations introduces deposit-free renting as an innovative alternative to traditional deposit requirements when securing a rental property. We proudly partner with flatfair as our preferred provider for deposit-free renting solutions. A Deposit Alternative entails replacing the standard five weeks’ security deposit (or six weeks for rents exceeding £50,000 annually) with a one-week rent fee + VAT. This fee grants membership in a deposit-free renting scheme, significantly reducing upfront costs. It’s important to note that this fee is non-refundable and not considered a deposit. Any costs or damages become payable by the tenant(s) at the end of the tenancy.
How Does Deposit-Free Renting Work?
The process is straightforward and facilitated through your local Premier Locations agent and flatfair. As a tenant, it’s as simple as:
- Joining flatfair.
- Paying a one-time fee.
- Staying protected throughout your tenancy.
Benefits of Deposit-Free Renting:
- Lower upfront move-in costs, equivalent to one week’s rent (+VAT), divided evenly among household members.
- Convenient check-out process, allowing payment only for responsibilities, including damages or missed rent, via flatfair’s user-friendly platform.
- Dispute resolution through flatfair’s platform or government-backed independent adjudication if disagreements arise.
- No hidden or recurring fees upon tenancy renewal, ensuring transparency and fairness.
Why Choose Flatfair? – Tenant FAQs
Flatfair eliminates the need for costly deposits while providing an easier, fairer way to manage end-of-tenancy charges with landlords or letting agents.
A flatfair membership costs one week’s rent + VAT, split among household members. For precise details, consult your Premier Locations letting agent or landlord.
Flatfair can convert your existing deposit into a flatfair membership, with the original deposit amount returned (subject to landlord agreement).
Yes, as outlined in your tenancy agreement, you are liable for damages or unpaid rent at the tenancy’s conclusion, excluding normal wear and tear.
Simply cover the costs at the end of your tenancy.
Similar to a traditional deposit, you and your flatmates share joint liability for damages and are expected to fulfill rent obligations punctually.
Your Premier Locations letting agent or landlord will add the new tenant as a flatfair member at no additional cost.
Your membership aligns with your initial tenancy end date and can be extended by your landlord or Premier Locations letting agent at no charge.
As with a conventional deposit, your landlord may raise charges or release you without payment upon tenancy conclusion.
Tenants adhering to rental obligations accrue a robust “flatscore” and access future discounts, enhancing credibility.
If you agree, flatfair invoices all tenants equally. Disagreements can be countered and negotiated, and disputes escalated to Independent Dispute Resolution.
In cases of disagreement, an independent government-authorized dispute resolution provider arbitrates. Dispute initiation incurs a £25 (plus VAT) fee, refundable if the dispute is deemed genuine and not malicious.