Deposit alternative service flatfair has entered a partnership with Fresh, a Build To Rent and co-living operator.

Instead of paying a traditional cash deposit, Fresh residents can now choose to pay a smaller one-off fee of one week’s rent plus VAT, lowering the financial burden of moving into a new home.

Flatfair claims Fresh also saves up to 60 minutes per tenancy while creating greater efficiencies with compliance, as flatfair registers all traditional deposits into a deposit scheme.

Gary Wright, chief executive of flatfair, says: “We are thrilled to bring our deposit-free solution to Fresh’s residents, providing them with a seamless and financially manageable move-in experience, particularly at a time when rent prices and therefore traditional deposits are rising.”

Fresh chief operating officer Jane Crouch adds: “Partnering with flatfair allows us to offer a valuable choice that can reduce the financial pressure of moving.

“At Fresh, we pride ourselves on understanding the market and the challenges it faces. We think like our residents, and this partnership is a testament to our commitment to finding innovative solutions that benefit both our clients and our residents, making our buildings a home, rather than just a place to live.”