Alto, part of Houseful, has announced a new integration with Zero Deposit to provide deposit replacement to its agent community.
With Zero Deposit, renters are able to move without putting down a cash deposit and is the category’s only fully regulated insurance-backed guarantee. Instead, they pay a small upfront payment of either one week’s rent or a monthly fee that ends at 12 months.
Through the integration, agents signed up to Alto can provide their customers with a fully regulated and automated deposit replacement experience – and can also remove the administrative burden associated with the end of a tenancy through faster claims payments.
Riccardo Iannucci-Dawson, chief operating officer at Alto, said: “The main barrier for today’s tenants is raising a deposit with over 70% of tenants borrowing to fund their deposit. Zero Deposit removes this barrier, widening the pool of prospective tenants for letting agents and ensuring they find the perfect match for their landlords. We’re delighted to partner with the leading provider in this space and believe that implementing Zero Deposit is an easy way for Alto customers to stand out from the competition.”
Sam Reynolds, CEO at Zero Deposit, added: “There has been considerable interest from our partners in launching an integration with Alto. It’s a seamless experience for our partners to win more instructions, attract the best quality tenants and radically improve the end-of-tenancy experience. It’s a win for landlords, tenants and letting agents.”
