Big lettings agency partners with flatfair to offer no deposit rentals

The Sheldon Bosley Knight Group (SBK) has announced a strategic partnership with flatfair, a leading provider of ‘No Deposit’ rental solutions.

The tie-up will enable multiple SBK brands, including Loveitts, to offer flatfair’s product across its UK branches.

This partnership comes after recent Rightmove data pointed to rent rises of 5% outside London and 3% within the capital.

‘Uncertainty for landlords’

Rebecca Dean, the lettings director at Sheldon Bosley Knight, said: “Letting a property comes with lots of uncertainty for landlords, so we are always looking for ways in which we can improve our services and offerings to them.

“This new offering will strengthen our proposition, providing landlords with more protection and enabling tenants to move without excessive upfront moving costs.”

The ‘No Deposit’ alternative from flatfair reduces upfront costs for renters to alleviates financial strain.

Landlords benefit from enhanced protection of up to 10 weeks, surpassing the traditional five-week deposit cap.

Rental homes for sale

Rightmove’s recent data also reveals a record number of former rental homes are now on the market for sale.

It says that 18% of homes listed for sale in 2023 had previously been available to rent – a big rise from the 8% seen in 2010.

This, flatfair states, underscores the need for solutions like its No Deposit to address the evolving demands of the rental landscape.

Last year, more than 65 agents and build-to-rent operators signed up to the platform.

SBK now joins the likes of Andrews, Spicer Haart and Beals offering the no deposit alternative.