The growing deposit alternative sector continues to be ultra-competitive with 15-branch agency Kings Lettings signing up to Zero Deposit.

Kings Lettings operates across North London, East London, Hertfordshire and Essex and it says hundreds of thousands of tenants will benefit by being offer the FCA-regulated alternative to a traditional security deposit.

“We’ve taken the decision to partner with Zero Deposit as we want to provide our landlord and tenant customers with increased choice and flexibility,” says Karl Knipe, Director of Kings Lettings.

“It’s becoming increasingly important for landlords to be able to offer a deposit-free alternative to tenants, many of whom may now consider the option of deposit-free renting as a key criteria or deal breaker when searching for their new home.

“Over the years, we’ve seen many tenants struggle to raise the money for a new deposit while still waiting for their existing deposit to be returned – deposit-free renting eliminates this obstacle.

“What’s more, products like Zero Deposit provide landlords with greater protection now that the majority of deposits are capped at five weeks’ rent” adds Knipe.

There are several deposit alternative providers but Zero Deposit and flatfair appear the two most dominant, with the latter earlier this month signing up the 200-branch Hunters franchise network.