Deposit Replacement Scheme

Goodbye long void periods

Rent your property faster and with more protection with Goodlord's Deposit Protection Scheme.

Ask your letting agent for more details.

Deposit Replacement Scheme from Goodlord

Authorised and regulated by the Financial Conduct Authority.

Deposit Replacement Scheme from Goodlord

Find out more about what Goodlord offers to landlords.

An alternative to a traditional deposit

A Deposit Replacement Scheme is an alternative to a traditional deposit you can offer your tenants. They pay a fraction of the price of a traditional deposit in a one-off non-refundable payment.

Speedy moves

SPEEDY MOVES

Make your property stand out from the crowd and get it let faster by offering a Deposit Replacement Scheme as an option when marketing. Tenants opting for a Deposit Replacement Scheme don’t need to wait for their deposit from their previous property to be returned so you can reduce the time between tenancies by offering it as an alternative options.

More protection

MORE PROTECTION

Deposit Replacement Schemes offer a higher level of protection on your property than a traditional deposit with up to two months’ rent arrears covered as well as dilapidations or damage to the property for the period of the tenancy. Tenants will also need to take out Tenants Liability insurance and pass referencing to be eligible for this service.

Pool of tenants

BROADEN YOUR PROSPECTIVE TENANT POOL

Deposit Replacement Schemes give tenants an alternative way of moving into a property without having to front the large sum of money required for a traditional deposit. Offering this option to prospective tenants increases the pool of tenants interested in your property.

Fair and impartial resolutions

FAIR AND IMPARTIAL RESOLUTIONS

If you have any rent arrears or damages disputed at the end of the tenancy our Deposit Replacement Scheme is adjudicated by Hamilton Fraser, independent and impartial specialists who also manage the government authorised tenancy deposit protection scheme, mydeposits.

REFER YOUR AGENCY

If you would like to offer a Deposit Replacement Scheme alongside a traditional deposit as an option for your tenants, refer your current agency to Goodlord. Don't currently use a letting agent? We can help you right here!

Frequently asked questions

You don’t have to offer a Deposit Replacement Scheme to your tenants but you do have to offer a traditional deposit scheme alongside a Deposit Replacement Scheme if you would like to offer this to your tenants.

No. You must provide tenants with the option of using a traditional deposit scheme.

If you cannot resolve the disputed charges, the dispute will be escalated to our impartial third party adjudicator, Hamilton Fraser, who have extensive experience in managing deposit disputes. They will ask the tenant to submit evidence which will be reviewed and they will determine an independent decision.

The Deposit Replacement Insurance is free for landlords.

Tenants must pass the referencing stage and must take out Tenants Liability insurance in conjunction with the Deposit Replacement Scheme.

Yes, our Deposit Replacement Insurance is authorised and regulated by the Financial Conduct Authority.

No. The tenant makes a one-off upfront payment that is less than a traditional deposit at the beginning of their tenancy. They do not receive this payment back at the end of their tenancy as they have chosen this route instead of paying a traditional deposit.