The Bedford Estates is now giving residential renters the opportunity to rent properties deposit-free with flatfair, the UK’s fastest growing deposit alternative – making us the first estate of its kind to do so.
The largest private landowner in Bloomsbury, offering both commercial and residential properties, The Bedford Estates may have owned and managed properties for over three centuries, but when it comes to lettings, our outlook is decidedly progressive.
As part of our commitment to making renting more accessible, we have partnered with flatfair to enable people to rent our properties without needing to pay an expensive upfront deposit.
Renters now have the option to pay a one-off, affordable membership charge (of one week’s rent, plus VAT) to flatfair, instead of the traditional lump sum deposit.
Renters can then pay for any lawful claims when their tenancy comes to an end. With rents set to rise sharply over the next five years, it’s a move that could help prevent potential tenants from being alienated from the rental market.
The Bedford Estates is also giving renters a 20 percent subsidy towards their Flatfair membership, meaning they only need to pay 80 percent of one week’s rent, plus VAT, split evenly across the household to qualify.
As Simon Elmer, Steward of The Bedford Estates, explains, “With a view to becoming more occupier focused and demonstrating an understanding of the financial impact of the rental process, we found flatfair to be an excellent way of addressing one element of the costs borne by the tenant.”
Several independent local property agents, including Chesterton’s and Hurford Salvi Carr, are already letting our properties with flatfair, with positive results.
Anshul Raja, Key Clients Director at Chesterton’s, says, “flatfair offers a real, efficient and easy to sign up alternative to the traditional cash deposits which now seem out-of-date in a modernising marketplace. We are proud to support the Bedford Estates’ efforts in promoting and supporting this service to their tenants which puts them at the forefront of this changing landscape and have seen a very promising uptake from applicants.”
Ediz Giritli, Lettings Manager at Hurford Salvi Carr, agrees. “We have been very impressed with the flatfair platform and how simple it is to set up flatbonds for new tenants,” he says. “The platform has a user-friendly interface, an organised dashboard and a live and responsive chat feed.”
“We’re very proud to be working with a progressive landlord like The Bedford Estates, and we hope other landlords will take steps to make life easier for renters, just as they have,” says Daniel Jeczmien, flatfair founder and COO.
We might have historic roots, but The Bedford Estates clearly has an eye trained firmly on the future. By embracing an innovative approach to letting, we are leading the way when it comes to making renting more affordable.