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Housing Hand Opens Up Depositless Renting to Students and Working Professionals

rents grow

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.

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.

Terry Mason, group operations director of Housing Hand, said: “This is a new approach to deposits. By extending our guarantee cover to include deposits, we are providing clear reassurance to landlords. We’re also facilitating access to the private rented sector and to purpose-built student accommodation for young people who might otherwise have struggled to come up with the amount required for a deposit.”

Depositless renting is one of a host of new services that Housing Hand has developed since the start of the pandemic. An early appreciation of the pandemic’s likely impact on renters led the firm to invest inward, resulting in it launching a free-to-use new House Finder Service earlier this year. That was followed by the release of a new Partner Portal to support accommodation provides to grow their revenue.

Now, Depositless renting has become the latest service to make renting easier for all concerned.