Flatfair’s Deposit Boost tackles rent arrears debt

Landlords might be interested in a service that will recover tenancy-related costs – including rent debt – to help shield them from financial losses.

It’s the brainchild of flatfair with its new offering enhancing traditional cash deposits.

The deposit alternative provider says its ‘Deposit Boost’ offering will buy a tenant’s arrears or damages debt exceeding the five-week legal deposit cap.

This removes the need for landlords to chase tenants for payments, a process often marked by delays, disputes and uncertainty.

Landlords need certainty

The firm’s chief executive, Gary Wright, said: “We already support thousands of landlords through our no deposit end-of-tenancy protection.

“Deposit Boost is a natural extension – designed for those still using traditional deposits but needing peace of mind when things go wrong.”

He added: “As Section 21 evictions disappear and ASTs are reformed, landlords need greater certainty, not more risk.

“Deposit Boost delivers that – a one-off fee for robust protection, and the confidence that even unpaid charges can be recovered.”

Mr Wright says the firm is looking to create a secure and fair renting experience which protects landlords while making the process simpler for everyone.

Landlords won’t be out of pocket

Flatfair says that landlords often find themselves out of pocket at the end of a tenancy – especially when arrears or damages exceed the deposit.

Once the cash deposit has been used, they’re forced to go directly to the tenant to chase payments, negotiate disputes or attempt to recover funds.

That’s a time-consuming, uncomfortable and often unsuccessful process.

If excess charges are raised and the tenant doesn’t pay, flatfair can purchase the outstanding debt — up to an additional five weeks’ rent — putting landlords back in pocket.

It will also handle all charges over the cash deposit, negotiations and collections from tenants, removing the administrative and emotional drain on landlords and agents.