Alleviate the need for a large deposit with PlanetRent

Using our lettings plagtform, PlanetRent, agents and landlords can now offer deposit-free rentals safely and easily. The average deposit paid by tenants is now well over £1,300 which is approximately half a month’s income.

Tenants are able to get a much better deal by using PlanetRent. Our partnership with deposit alternative provider, Reposit, results in landlords being protected whilst tenants can move into their new home and avoid putting down a largedeposit.

Here is how it works: Renters simply purchase a ‘reposit’, costing just one week’s rent as a service fee. Reposit then offers market-leading property protection of eight weeks to PlanetRent landlords - with very little administration and zero risk. PlanetRent landlords are able to use this service automatically. All of the information relating to the tenant, as well as the tenancy contract are sent to Reposit at the first instance.

Landlord Today has reported that a survey of more than 4,500 private landlords by the National Residential Landlords Association (NRLA), shows that 9 out of 10 landlords with tenants who are struggling to pay their rent aredoing all that they can to help. By using PlanetRent with Reposit, landlords and agents can take onboard renters whose personal finances may not normally be sufficient for them to do so.

How PlanetRent helps those who do not have a large deposit

The partnership between PlanetRent and Reposit allows landlords to give a home to a greater range of people. That includes those on lower incomes who may be unable to put forward a traditional deposit. This is whilst landlords stay protected. It is also of benefit to those starting their first job, just leaving education or looking for their first home. Mary-Anne Bowring, group managing director at Ringley and creator of PlanetRent, was quoted “Deposits help make sure that landlords are protected from any extra damage caused by tenants beyond reasonable wear and tear. For many renters, they are a huge financial burden.

The partnership between PlanetRent and Reposit takes much of the pain out of renting. Our new cloud-based platform really is lettings automated – it is quick, easy and hassle free for landlords and agents and now it is deposit-free for tenants too. Please go to www.planetrent.co.uk.to see how we can help.