Tenancy deposit replacement supplier flatfair has announced some major new signings.
Barbon Insurance Group, whose brands include HomeLet and Rentshield Direct, has decided against developing its own product and opted to go with an existing supplier.
A co-marketing agreement with flatfair is the result.
Flatfair and both HomeLet and Rentshield Direct will cross-promote each other’s products and services.
Flatfair has also announced a partnership with one of the UK’s biggest private landlords via its managing agent.
Williams Pears Group has over 5,000 properties in its portfolio, which is managed by Hamways.
Flatfair has also unveiled partnerships with Ascend Properties, which manages Gatehouse Bank’s portfolio in the north west, and with build-to-rent business Cording Real Estate Group.
The new agreements follow the announcement that Flatfair is also partnering with rental platform Goodlord.
Comments (2)
“Landlords let their properties faster and get up to twice the protection of a regular 6-week deposit.”
Considering Flatfair haven’t even updated their website to reflect the new deposit rules why would you use them?
“Sign up, pay your one-off membership fee and add your debit card as security. You’re still accountable for damages and unpaid rent (if any), but now you can simply register your debit card and pay when you leave.”
If tenants don’t have the upfront deposit when they move in why on earth would you believe they have when the leave. Flatfair are completely unregulated and therefore have no one to answer to plus as a limited company they could go bust and any landlord that accepted a tenant using this scheme would have no protection and no recourse against the directors. Sorry but if you’ve got an investment worth £1000s why would you take that sort of risk and expose yourself further.
Good move by Homelet – when the deposit replacement schemes eventually fail (as they are most likely to do) Homelet will be able to walk away without having had the infrastructure cost or reputational damage. Meantime, they get flatfair to promote their products.