Tenants at a Newcastle-upon-Tyne Build To Rent scheme are being offered deposit alternatives by the developer-cum-management firm, The High Street Group.
The development, called Hadrian’s Tower, completed towards the end of last year and tenants have been told they need only pay a one-off check-in fee of £24 if they sign to flatfair’s No Deposit service.
Tenants must authorise their debit card at the start of the tenancy and settle bills at the end – in the words of flatfair this “is as they would at a hotel.”
flatfair claims this “has been proven to improve trust between tenants and landlords by making the conversation around end-of-tenancy costs wholly transparent.”
Franz Doerr, flatfair’s chief executive, says: “Last year was a difficult one for all corners of the economy — not least the property sector — so we are thrilled to kick off 2021 with another strategic partnership, this time with The High Street Group.
“flatfair has quickly become a trusted and recognised player in the PropTech industry, helping landlords, agents and tenants to establish a more transparent and productive relationship."
Gary Forrest, chairman at The High Street Group, comments: “As more and more people continue to demand a higher-quality, more integrated standard of city living, so too are they demanding more straightforward and progressive procedures when it comes to money and finance.
“We are delighted, therefore, to be offering renters at our landmark Hadrian’s Tower scheme the chance to save potentially thousands of pounds on up-front costs.”