Smart Deposit Solution - A ZERO deposit option for tenants and a smart option for landlords

Always striving to offer our clients the very best products and market leading services, bpl is pleased to be able to offer Smart Deposit Solution.

FCC Paragon has recognised the potential problems for both landlords and tenants when it comes to deposits on rental properties. With more and more legislation which landlords have to adhere to for holding tenants deposits and the increasing cost of living which may mean tenants can’t afford the upfront cost of a deposit, we thought it was about time something changed!

Smart deposit is a warranty product which benefits both the landlord and the tenant. It allows the tenant to move into a property without having to find a large, sometimes unaffordable upfront sum and it covers the landlord for damage to the property AND unpaid rental.

How does it work?

Once all tenants have successfully passed our full referencing process, they pay a one off fee to us for the smart deposit solution, which avoids them having to pay a deposit.

We then provide the landlord with a smart deposit warranty contract which covers them for any damage made to the property on vacation of the tenant (s) (up to a maximum of 2 months rental value will be provided for damage cover).

The benefits for you, the tenant:

• No large upfront deposit has to be paid, just a fee for providing the warranty cover.
• You can move into your property quicker as you won’t have to save for a deposit or wait for their deposit on a previous property to be released from a deposit scheme.
• You can can move out without the worry of having to wait for the deposit to be repaid
• The one off fee provides a smart deposit solution warranty for the life of the tenancy, however long that may be

For more information and fee details please contact us on 0121 427 2200