Housing Hand opens up Depositless renting to all students and working professionals
Woman sitting on a sofa and using a laptop.
UK rental guarantor service Housing Hand has revealed details of its new, Depositless renting service. Available to working professionals, UK students and students from overseas, the Depositless option will allow renters to move into a property without a deposit.
“There are a number of deposit alternative products on the market, in particular insurance bonds that are limited in their scope and coverage and that only pay out at the end of the tenancy. We wanted to go above and beyond those – to offer something that would be better for renters and better for accommodation providers.”
James Maguire, Head of Sales and Business Development, Housing Hand
This new approach to deposits is rolled into Housing Hand’s guarantor service, which renters can use in place of a personal guarantor. The service provides the reassurance that accommodation providers need that they won’t end up out of pocket if the tenant defaults on their rent.
The Depositless service means that tenants can move in without a deposit, as that is now covered as part of the Housing Hand guarantee. Any claims are covered straight away (rather than landlords having to wait until the end of the tenancy), in addition to the terms of the regular guarantee. Housing Hand upholds a 100% payout rate on all valid claims.
