Zero Deposit, the firm set up by former Zoopla commercial director Jon Notley, says it now has around 850 offices using its product – and it pledges a new product to help letting agencies offset the damage from the tenant fees’ ban.

The firm says large parts of London, Manchester, Leeds and Sheffield are now covered, along with towns from Accrington through to Workington. 

“We knew from our research that Zero Deposit would be popular, but it is especially pleasing to see all types of towns and cities embracing the product, from rural towns like Ripley through to coastal towns, suburbs and the cities” says Notley, whose enterprise is backed by Zoopla amongst others.

“Tenancies covered range from lower value lets in the regions through to high value London apartments. The product is appealing to all segments of the market with every age and property type covered. 

“Tenants hugely appreciate the financial freedom our product offers, while agents and landlords are attracted to the genuine protection and credibility of our fully FCA regulated guarantee, with all of the safeguards that brings.”

Now Zero Deposit is launching Independent Agent, which gives smaller agents access to the product for the first time. 

“We already have 30 independent agents live in our launch group, and many more who have expressed interest in joining our network. Having rolled out to a number of larger agent groups in 2018, it is great to now be able to offer the product to the whole agent market” claims Notley. 

“This is especially relevant given the news that cash deposits are likely to be capped at five week’s rent, whereas our product offers landlords six weeks protection, along with referral commission to agents.”

“With many hundreds of letting agent offices already live, and many more to launch in early 2019, we anticipate that Zero Deposit will become a major part of renting for agents, landlords and tenants across the UK.”