In Alto, you are able to easily record if a tenant’s deposit is registered with the Zero Deposit Guarantee. The Zero Deposit Guarantee scheme makes renting more affordable for tenants by providing an alternative to the traditional security deposit. This can help speed up the renting process and reduce void periods.
Tenants buy a Zero Deposit Guarantee for the cost of one week's rent. The scheme provides landlords with protection equivalent to a six-week deposit. At the end of the tenancy, tenants must pay for any damage or unpaid rent. For more information, visit www.zerodeposit.com.
- Click Progressions on the main toolbar
- Within Lettings on the side menu, click All Lettings
- In the Status dropdown menu, click In Progress
- Click the relevant property in the list for the tenancy on the zero deposit scheme
- Alternatively, find the property using the Search Lettings bar in the top right
- Click Edit Tenancy
- You can now make changes to the deposit scheme
- Deposit Required - This can be set as 0
- Deposit Scheme - In the dropdown menu, click No Deposit Held
- Click Save
Any information relating to this tenancy and their security with the Zero Deposit Guarantee scheme can be added to the comments on the tenancy.