January 2019: The No Deposit Option has evolved to the Residency tenancy membership - find out more.
Following the launch of our ‘No Deposit Option’ (NDO) in 2018, thousands of tenants across the country have been reaping the benefits of our market-leading scheme. From reduced financial strain to a smoother transition between tenancies, our tenants are thrilled with the numerous benefits NDO has to offer.
However, they’re not alone – our landlords have also been reaping the benefits of this revolutionary scheme – with higher tenant demand, reduced void periods and additional protection just three of its great number of perks.
Higher tenant demand
With corporate and social commitments to balance, prospective tenants require more flexibility than ever, when it comes to renting. Our NDO listed properties are catching the eye of more and more tenants who are seeking their ideal home, but who may struggle to scramble such large upfront deposits together in time. NDO enables them to make affordable monthly payments towards their deposit fund, once they’ve moved in.
Reduced void periods
With more and more tenants interested in our NDO properties, our landlords are benefiting from far quicker turnarounds between tenancy agreements, subsequently resulting in extra visibility for their rental properties and reduced void periods.
As with a traditional deposit scheme, all NDO tenants are accountable for damages to their rental homes. The difference? Our NDO landlords are protected with an additional 33%, as Leaders will indemnify landlords for the equivalent of eight weeks’ rent.
What’s more, our landlords are welcoming more prospective tenants, and letting their properties more quickly with NDO:
· 57% of new tenancies now commence with our No Deposit Option
· NDO listed properties on Rightmove are receiving 16% more views from prospective tenants
· NDO listed properties on Leaders.co.uk are receiving 17% more views from prospective tenants
Want to learn more about how this unique scheme can benefit you or would you like to register your interest? Click here to find out more about our No Deposit Option.