The Bedford Estate, which covers part of Covent Garden and includes Bloomsbury, has linked up with one of the growing number of deposit-free platforms, Flatfair.
Its private tenants now have an option to pay a one-off ‘membership charge’ - of one week’s rent, plus VAT - instead of the traditional lump sum deposit. Tenants then pay for any lawful claims when their tenancy comes to an end.
The estate says several independent local property agents, including Chestertons and Hurford Salvi Carr, are already letting their properties with flatfair.
“We’re very proud to be working with a progressive landlord like The Bedford Estates, and we hope other landlords will take steps to make life easier for renters, just as they have” says Daniel Jeczmien, Flatfair founder.
“It might have historic roots, but The Bedford Estates clearly has an eye trained firmly on the future. By embracing an innovative approach to letting, the firm is leading the way when it comes to making renting more affordable” he adds.