With Gibbs Gillespie’s No Deposit Option, tenants can opt to pay a small monthly fee in lieu of a deposit. In return, Gibbs Gillespie will indemnify your property for up to 7 weeks’ rent – that’s 40% more than the traditional 5 weeks. Other benefits include:
Tenants who consider their credit scores – By opting for the No Deposit Option, your tenants rental payments contribute to their Experian credit score (usually rent does not). This gives you added peace of mind that your tenants are financially careful and have even more incentive not to default on payments.
More demand from tenants who want deposit free renting – The No Deposit Option not only benefit tenants financially, but also gives landlords a new marketing tool, creating a buzz around your property that other agents can’t match.
Minimal void periods – With higher tenant demand comes a faster process and a potential reduction in void periods.