Rettie & Co is the first agency north of the border to offer a no-deposit scheme to tenants - although it’s restricted to one Build To Rent scheme looked after by the company.
The pilot is at the Harbour Gateway BTR scheme in Edinburgh.
Tenants can choose to pay their rent via Canopy’s free to use no-deposit RentPassport, which is backed by Experian and enables tenants to build a credit score and renter profile.
Rettie & Co will offer this to tenants at Harbour Gateway instead of the traditional security deposit, which is typically equivalent to four weeks rent.
“Scotland, like the rest of the UK, is facing a chronic shortage of housing. In its current state, the private rental sector fails to meet the needs of the nation’s renters. Canopy’s initiatives offer a lasting solution to the issues currently facing Scottish renters” according to Matthew Benson, Rettie’s director and head of development services.
In July the agency was appointed by regeneration group Places for People to support the delivery of 1,000 affordable homes across Scotland - Harbour Gateway is part of that delivery.