Pay a little, live a lot with our No Deposit Option for tenants

Tue 22 May 2018

Our innovative No Deposit Option (NDO) is designed to ease the financial burden placed on tenants. Rather than paying a large deposit equivalent to six weeks’ rent upfront, you can instead pay a small monthly fee and enjoy deposit-free renting!

Giving you more options

The scheme makes renting a property more affordable, both for first-time renters who no longer have to save a deposit and for existing tenants who do not have to fund a new deposit while they still have such funds tied up in a current home.

One of the most common reasons tenants are forced to stay in their rental property is that they are unable to afford the deposit for a new property before their existing deposit is returned. With NDO, this is no longer an issue, meaning you are able to more easily move home. 

Helping build your credit history

Currently, rental payments do not positively impact a tenant’s credit history even though rent is often the largest regular payment many tenants make. With NDO, Leaders’ tenants will benefit from Experian tracking their rental payments to ensure those who pay in full and on time are contributing positively towards their credit history. This in turn will result in tenants who are more motivated to improve their credit history, reducing the likelihood of missed or late payments.

Saving you money

What’s more, to further ease any financial strain on our tenants, we’ve partnered with Spark energy to offer an exclusive energy tariff which tracks the market. Tenants are automatically placed on the cheapest tariff based on their actual usage each month, ensuring that their rate is cheaper than all of the Big Six energy suppliers* from the day they move in - freeing up even more funds to go into savings, towards buying furniture or, funding a deposit to buy their first house.

To see properties that are available to rent with our No Deposit Option click here.

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