Pre-launch demo site for illustrative purposes only, all content is subject to change.
LANDLORDS
Worried about finding the right tenant?
Stand out, rent faster, and get more protection with Deposit-Free.
Relax with more protection than a traditional deposit.
You are protected against:
Damage to your Home
Protection for damage to fixtures, fittings, furniture and household appliances.
Up to 12 months rent.
Loss of Rent
Protection against loss of rent if premises is uninhabitable, access is prohibited, or if the tenant fails to pay.
Up to 6 months rent.
Personal Liability
Protection against legal liability as owner of the property for accidental bodily injury or property damage to third party.
Up to $3m.
By reducing the upfront cost of renting, offering a deposit-free property can also speed up the process of finding tenants, and reduces void periods.
Good for tenants, great for landlords.
Deposit-Free replaces a traditional deposit with a protection service. As a Deposit-Free landlord, you receive additional protection, at no cost to you. To make renting more affordable, tenants instead pay a small monthly service fee that includes protection for both you and the tenant.
Renting a property Deposit-Free does not mean no responsibility. Tenants remain liable for any damages or rent arrears.
Reduce vacancies and boost rental income.
Similar services found that refunding deposits had a stronger effect on renewals than a 3% concession on annual rent.
How does Deposit-Free renting work?
Our process is smooth, simple and secure, making renting better for everyone. We’re here to provide support every step of the way.
Moving-in a New Tenant
Offer Deposit-Free renting
Make your property stand out by working with one of our partner agents. They will ensure potential tenants are aware that Deposit-Free renting is an alternative for them. Offering Deposit-Free renting is a great alternative to dropping rental prices to attract tenants.
Registration
After signing the rental contract, you will register and invite the tenant to set-up the Deposit-Free rental scheme. The scheme covers their home contents and you as their landlord. You will receive a copy of the insurance contract with you as beneficiary.
Check and move-in
On move-in, you or your agent creates an inventory report via our check-in app, detailing the condition of the property. This check-in is fundamental to a smooth check-out process.
During the tenancy
The tenant is responsible for looking after your property and the terms under your tenancy agreement, including taking all reasonable steps to maintain the property and its contents in good condition.
In the event you need to make a claim covered by insurance, you can claim directly with our insurance partner.
Any damage to the property or your contents should be promptly reported by the tenant or agent as soon as they occur.
When your tenant moves out
End the scheme
When you know the tenancy is ending you can log into your portal to end your membership. Your tenant can also start this step.
Check-out
As your tenant moves out, you or your agent should conduct an inventory and check-out report via our app. This report will identify any changes in condition of the property and will be compared against the inventory and check-in report to identify any settlements owed to you.
Settle
After assessing the check-out report you may request settlements from your tenant – just like you would request to make deductions from a cash deposit. It is your tenant’s responsibility to settle these requests. If a settlement cannot be agreed you can escalate the request to our resolution team to assess the evidence and determine a value.
You are responsible for:
Property wear and tear
Like normal rentals, claims cannot be made against the tenant or insurance for general wear and tear, and normal deterioration over time.
Other tenancy terms
You must honour any other agreements in your tenancy, such as keeping the home in good habitable condition.
Excess and non-insured risks
Not all risks are covered, and claims may require an excess, please read the policy documents carefully.
Ensuring good conduct
Tenants are financially liable for any amounts owed, and damage not covered by insurance. In the event of non-payment, you will be paid under insurance and we will trigger debt collection from tenants directly. Non-payment may impact their credit history and result in court fines.
More reasons to rent Deposit-Free.
Offering Deposit-Free can be a great alternative to lowering asking rent. You can also boost rentention rates by offering to refund deposits on renewal.
Stand out and rent faster
Offering Deposit-Free as an option helps your property stand out in a competative market. It also helps tenants move faster, reducing void periods.
Personal liability
Protection against legal liability as owner of the property for accidental bodily injury or property damage to third party, up to $3m.
Loss of rent
Protection against loss of rent if premises is uninhabitable, access is prohibited or if the tenant fails to pay, up to 6 months rent.
Resolve disputes
Protection against loss of rent if premises is uninhabitable, access is prohibited or if the tenant fails to pay, up to 6 months rent.
Protect your decoration
Cover for interior decoration, fixtures and fittings like wall paint, wallpaper and floorings.
Protect your contents
Cover is provided for your household contents at the insured premises including furniture, household goods and appliances, up to 12 months rent.
Replacement of locks and keys
Covered for costs incurred for replacement of external door locks and keys damaged due to burglary or attempted burglary.
Rental recovery and repossession
We cover actual legal expenses and costs incurred for rental recovery and/ or repossession of the insured premises from the tenant of required.