Tenant FAQ
How much does a Zero Deposit Guarantee cost?

A Zero Deposit Guarantee costs a tenant 1 week’s rent, so if your rent is £220 per week, that is the cost. The Zero Deposit Guarantee is automatically renewed on an annual basis. On renewal, there is a charge of £26 which covers the cost of managing the Zero Deposit Guarantee. Where there is a change of tenant under an existing Assured Shorthold Tenancy Agreement, the new incoming tenant will need to pay a £40 fee to be added to the Zero Deposit Guarantee.

When do I pay for the Zero Deposit Guarantee?

You will need to pay for the Zero Deposit Guarantee at the same time that you would normally be expected to pay the security deposit.

How much does it cost to cancel?

There is no cancellation fee, but you can only cancel within a 14 day cooling off period after purchasing the Zero Deposit Guarantee.

How does it work with multiple tenants?

Multiple tenants must take out a joint Zero Deposit Guarantee. They share the cost of the fees and any payment due to the landlord under the Assured Shorthold Tenancy Agreement for any financial loss or damage the landlord suffers. The tenants are all jointly and severally liable, meaning if one tenant doesn’t pay, the other tenants assume total liability for the entire amount due.

Who pays for the Zero Deposit Guarantee?

The Zero Deposit Guarantee is paid for by the tenant.

What happens at the end of the Assured Shorthold Tenancy Agreement if I cause damage or don’t pay my rent?

You settle this with the landlord directly at the end of the tenancy. If you don’t, we pay them on your behalf and then collect any monies owed from you. We may engage the services of a debt collection agency in order to recover any such monies and you may be liable for their cost.

What happens if I don’t pay you?

It is important that you do. If you do not we may pass your debt to a debt collection agency which could affect your credit rating. You may also be liable for the costs we incur engaging the debt collection agency.

What if I disagree with the amount being claimed by the landlord?

We refer your case to The Dispute Service (TDS), our expert evaluation partner, who will review the evidence and determine whether you are liable for any financial loss or damage under the Assured Shorthold Tenancy Agreement and, if so, the amount due to the landlord.

How do I know that I can trust Zero Deposit?

Integrity is one of the core values of our business. Zero Deposit Guarantees are provided by Great Lakes Insurance SE, which is regulated by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority which means there are safeguards in place to help ensure you get a fair and transparent product with no hidden risks.

Will a dispute over a claim be resolved fairly?

We have partnered with The Dispute Service (TDS) to help ensure fair outcomes for landlords and tenants in the event of a dispute. All TDS adjudicators belong to the Chartered Institute of Arbitrators and comply with their Adjudicator Code of Conduct, which is available on the TDS website. The adjudicators make decisions based on the issues in dispute and the evidence provided.

What if I extend my stay at the property beyond the initial tenancy period?

The Zero Deposit Guarantee will automatically renew if your tenancy agreement is extended and we charge an annual administration fee of £26 on renewal.

What if a landlord does not accept Zero Deposit?

You will need to provide a traditional tenancy deposit. It is a landlord’s choice to decide whether to allow Zero Deposit as an option in place of a traditional tenancy deposit.

What happens with multiple tenants when one person decides to leave?

When we are informed that a tenant is released from a multi-tenant agreement, we will update the Zero Deposit Guarantee to reflect the change and re-issue guarantee documentation. Any new tenants moving into the property will need to be added to the Zero Deposit Guarantee and will need to pay an administration fee of £40 to do this.

Do I get my fee back when I leave at the end of the tenancy if there are no issues?

No.

Do you offer services to vulnerable customers?

“Customer vulnerability” is defined as any personal, social or other factor(s) that may impact your ability to exercise informed decision making, rendering you vulnerable to suggestion and/or impacting your confidence to lend or borrow. Below we have outlined a broad range of vulnerable circumstances and situations including, but not limited to:

Illness/Sickness – This could be due to a short-term condition or something of a longer-term nature such as recuperating from medical conditions.

  • Physical Disability – The broad nature of disability encompasses a number of forms including but not limited to: deafness, blindness, and the restriction of limb use or mobility. All of these are factors which may impact your ability to purchase a guarantee through Zero Deposit.
  • Bereavement - Loss of a partner, relative or close friend may temporarily render you susceptible or vulnerable, something which may impact rational decision making.
  • Mental Capacity - This applies to customers who may suffer from any form of mental incapacity, which again may impact your ability to purchase a guarantee.

We cater to vulnerable customers. If you feel one of the above might be applicable, you can contact us here or call and a member of the team will be able to assist you.

Will Zero Deposit ever request my password or other security details?

We will never ask for your password or login details. If you receive any request for this information, kindly report it to us at support@zerodeposit.com

Ensure you do not use a password that can be easily guessed and never use the same password for multiple websites for which you are registered to use. Be minimalist with the amount of personal information you share about yourself online, to help reduce your risk of identity theft and fraud. Always update your computer, tablet and smartphone’s operating system and web browser software. We recommend you use anti-virus software to protect your devices.

Landlord FAQ
Who pays for the Zero Deposit Guarantee?

The Zero Deposit Guarantee is paid for by the tenant.

What is covered by the Zero Deposit Guarantee?

You are covered for financial loss or damage for which your tenants are liable under your Assured Shorthold Tenancy Agreement, up to the value of 6 weeks’ rent.

Are my tenants still liable for any financial loss or damage?

Your tenants remain liable for any financial loss or damage as set out in your Assured Shorthold Tenancy Agreement.

Why should I offer this to my tenants alongside a traditional deposit option?

Moving into rented accommodation can be a costly experience, so by offering a more affordable solution for tenants you can potentially attract a wider audience of tenants which can lead to faster renting and higher rents.

Will a Zero Deposit Guarantee attract a different type of tenant?

The Zero Deposit Guarantee may attract a wider audience of tenants. However, your letting agent will still carry out the same checks on tenants to ensure they are suitable and meet the criteria you have agreed with your letting agent prior to them being introduced to Zero Deposit.

How do I make a claim?

A claim can be made in two ways: If you believe there is any financial loss or damage suffered by you under your assured shorthold tenancy agreement, and you have failed to reach a settlement directly with your tenant, you can notify us of this and request to make a claim. If at the end of the tenancy we become aware that the tenant has not made payment to you in settlement of any financial loss or damage, we will deem you to have made a claim. What if a claim is challenged by a tenant? We always encourage settlement by negotiation. Where the tenant disputes a claim, we will ask you and the tenant to provide evidence and we will pass the claim and the evidence to our expert evaluation partner, The Dispute Service (TDS). TDS will review the claim and determine whether the tenant is liable for any financial loss or damage and, if so, the amount due to you.

What evidence will I need to provide in the event of a dispute?

We recommend you include the check-in inventory and schedule of condition report and the check-out inventory and schedule of condition report. If you are claiming for rent arrears, you should send a schedule of the rent that has been paid, and the outstanding rent and when it became due. With these documents, you should be able to evidence any property damage or rent arrears for which the tenant is liable. If you would like to submit photos as evidence, they should be dated and of reasonable quality. Our dispute process is the same as with a traditional cash deposit.

If there is a dispute, is an insurance company deciding whether my claim is settled?

No, disputes are assessed by our expert evaluation partner, The Dispute Service, who operate the longest-running tenancy deposit protection scheme in the UK. They review the evidence and provide a fair and impartial decision. How quickly do I receive a pay-out if my claim is successful? If TDS finds in your favour, we will pay you within two working days of being informed of TDS’s decision.

How much does a Zero Deposit Guarantee cost?

The initial cost of the Zero Deposit Guarantee for the tenant is the equivalent of one week’s rent. The Zero Deposit Guarantee is automatically renewed on an annual basis. On renewal, the tenant also pays an annual administration fee of £26 which covers the cost of managing the Zero Deposit Guarantee. Where there is a change of tenant under an existing Assured Shorthold Tenancy Agreement, the new incoming tenant will need to pay a £40 fee to be added to the Zero Deposit Guarantee.

How do I know I can trust Zero Deposit?

Integrity is one of the core values of our business. Zero Deposit Guarantees are provided by Great Lakes Insurance SE, which is regulated by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority which means there are safeguards in place to help ensure you get a fair and transparent product with no hidden risks.

Will a dispute over a claim be resolved fairly?

We have partnered with The Dispute Service to help ensure fair outcomes for landlords and tenants in the event of a dispute.

Are ‘The Dispute Service’ impartial?

The Dispute Service (TDS) adjudicators work fairly and impartially. All TDS adjudicators belong to the Chartered Institute of Arbitrators and comply with their Adjudicator Code of Conduct, which is available on the TDS website. The adjudicators make decisions based on the issues in dispute and the evidence provided. Do I still need to collect a deposit? No, the Zero Deposit Guarantee replaces the need for a tenancy deposit, giving you effectively the same security and protection but without the hassle of collecting a traditional deposit.

How can I offer Zero Deposit on my property?

Zero Deposit Guarantees can be offered through one of our partner agents. If you need help finding a local partner agent or would like us to talk to your existing agent about becoming a partner, please get in touch on help@zerodeposit.com

Will Zero Deposit ever request my password or other security details?

We will never ask for your password or login details. If you receive any request for this information, kindly report it to us at support@zerodeposit.com Ensure you do not use a password that can be easily guessed and never use the same password for multiple websites for which you are registered to use. Be minimalist with the amount of personal information you share about yourself online, to help reduce your risk of identity theft and fraud. Always update your computer, tablet and smartphone’s operating system and web browser software. We recommend you use anti-virus software to protect your devices.

Agent FAQ
Who pays for the Zero Deposit Guarantee?

The Zero Deposit Guarantee is paid for by the tenant.

What is covered?

A Zero Deposit Guarantee provides cover for the landlord against financial loss or damages suffered by the landlord and for which the tenant is liable under the Assured Shorthold Tenancy Agreement.

What is the maximum value of the cover?

The maximum sum covered is the equivalent of 6 weeks’ rent.

How much does a Zero Deposit Guarantee cost?

The Zero Deposit Guarantee costs a tenant one week’s rent, so if their rent is £220 per week, that is the cost. The guarantee renews automatically on an annual basis. On renewal there is an administration fee of £26. Tenants who are added to the Assured Shorthold Tenancy Agreement after the initial move in date will be charged £40 to be added to the Zero Deposit Guarantee.

How much does it cost to cancel?

There is no cancellation fee. Only the tenant can cancel and only within the statutory 14 day cooling off period after purchasing the Zero Deposit Guarantee.

Can I be confident that a Zero Deposit Guarantee protects my landlords?

Yes. Zero Deposit Guarantees are provided by Great Lakes Insurance SE, which is regulated by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and subject to limited regulation by the Financial Conduct Authority and the Prudential Regulation Authority which means there are safeguards in place to help ensure landlords and tenants get a fair and transparent product with no hidden risks. We have partnered with The Dispute Service (TDS) to help ensure fair outcomes for landlords and tenants in the event of a dispute.

Do we still need to collect a deposit?

No, the Zero Deposit Guarantee replaces the need for a tenancy deposit, giving the landlord security and protection but without the hassle of collecting a traditional deposit.

How does a landlord make a claim?

A claim can be made in two ways:

If a landlord believes there is any financial loss or damage suffered by them under their assured shorthold tenancy agreement, and they have failed to reach a settlement directly with their tenant, they can notify us of this and request to make a claim. If at the end of the tenancy we become aware that the tenant has not made payment to the landlord in settlement of any financial loss or damage, we will deem them to have made a claim.

What if a claim is challenged by a tenant?

We always encourage settlement by negotiation. Where the tenant disputes a claim, we will ask the landlord and the tenant to provide evidence to support their claim and we will pass the claim and the evidence to our expert evaluation partner, The Dispute Service (TDS). TDS will review the claim and determine whether the tenant is liable for any financial loss or damage under the Assured Shorthold Tenancy Agreement and, if so, the amount due to the landlord.

How will tenants and landlords know that a dispute over a claim will be resolved fairly?

Disputes are handled by The Dispute Service (TDS), the longest running tenancy deposit protection scheme in the UK, which enables us to provide a highly experienced and professional service to our customers. All TDS adjudicators belong to the Chartered Institute of Arbitrators and comply with their Adjudicator Code of Conduct, which is available on the TDS website. The adjudicators make decisions based on the issues in dispute and the evidence provided.

What’s in it for my landlord?

By giving you the potential to attract a wider audience of tenants, you can increase demand for the landlord’s property and reduce the time taken to rent.

Can I earn money for introducing tenants?

Our Partner Agents earn a commission for every introduction that leads to a Zero Deposit Guarantee purchase. To find out about becoming a partner contact us at partners@zerodeposit.com

Can I make Zero Deposit the only option on tenancies?

No. It is the landlord’s choice whether to allow the Zero Deposit Guarantee as an option in place of a traditional tenancy deposit. If the landlord does want to offer the Zero Deposit Guarantee as an option, tenants must still always be offered a choice to either pay a traditional tenancy deposit or purchase a Zero Deposit Guarantee.

Do you offer Zero Deposit Guarantees on houses in multiple occupation (HMOs)?

Yes.

How do I become an approved partner?

Contact us at partners@zerodeposit.com

Will Zero Deposit ever request my password or other security details?

We will never ask for your password or login details. If you receive any request for this information, kindly report it to us at support@zerodeposit.com

Ensure you do not use a password that can be easily guessed and never use the same password for multiple websites for which you are registered to use. Be minimalist with the amount of personal information you share about yourself online, to help reduce your risk of identity theft and fraud. Always update your computer, tablet and smartphone’s operating system and web browser software. We recommend you use anti-virus software to protect your devices.

Any Other Questions?

If you have any other questions, please get in touch on our contact page and we'll do our best to help!

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