RentHero offers full coverage for the landlord.
RentHero low-cost guarantees reduce the financial burden on renters, allowing to keep their cash for important things, like new furniture, or a better rental property.
RentHero is the simple and safe alternative to traditional deposits. Tenants pay a small monthly fee equivalent toa fraction of their monthly rent. When it's time to move out, RentHero helps landlords and tenants settle any disputes quickly and fairly. Charges are paid instantaneously, so landlords don't have to think anymore of hassling with tenants to get the costs paid out.
Cutting-edge technology means you'll get paid any charges from tenant slip-ups the day after charges have been agreed. By covering the costs for any damages or missing rent ourselves, hold-ups due to 'frozen' (where tenants don't respond) or 'withheld' (where ongoing litigation results in delays) deposits are no longer an issue.
To use RentHero, tenants must pass referencing which includes an affordability check. Their monthly earnings must be at least 2.5x the monthly rent. If this check is failed, a guarantor is required, or the tenant must pay up to 6 months’ rent up front.
Just like a normal deposit, tenants remain fully liable for all dilapidations and rent arrears at the end of tenancy. RentHero will continue to pursue the tenant for any valid end of tenancy charges, even if you have already been repaid by RentHero.
On average only 30% of tenancies end with any sort of charges, including cleaning.
Becoming a no deposit agent is smooth and simple. You can offer the choice of a RentHero Guarantee to your tenants directly, or if you have an agent who manages the deposit, you can refer them to us. To get the ball rolling, all you'll need to do is answer a few questions.
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