Zero Deposit Scheme
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Did you know we run a zero deposit scheme?
How does it work?
- Tenants pay a zero deposit which is the equivalent of 20% of a month’s rent plus VAT to insurers FCC Paragon. This is a one off payment.
- The FCC Paragon zero deposit service, insures the landlord up to a maximum of 6 weeks rent for any breach of the tenancy agreement agreed by the tenant.
- Tenants will reimburse FCC Paragon for a sum agreed, or in the case of a dispute, determined by an independent adjudicator within 14 days of notification.
- For rentals with more than one tenant a 'lead tenant' will be nominated.
- Tenants must have tenant liability insurance in place for the complete duration of the tenancy and provide a copy of the insurance certificate.
At the end of the tenancy if there are no rent arrears or damages then no further action is required and there is no wait for a deposit to be returned.