We strongly advise all landlords to carefully review the information below.
Here is our landlords' checklist – important things to remember before signing your flatfair membership agreement.
I understand that:
- My managing agent will liaise with flatfair on my behalf
- flatfair is not an insurance product and that my tenants remain liable to pay for any lawful end of tenancy charges
- I have responsibilities and obligations under flatfair’s Terms & Conditions
- Raising a dispute without good reason may cost me £100 + VAT.
Why every landlord should use flatfair instead of a cash deposit
flatfair is the simple and safe alternative to tenancy deposits. Instead of a limited six-week deposit, flatfair offers landlords:
- Extra protection of up to the value of 12 weeks’ rent (*though never more than six weeks’ rent arrears), with optional free recovery for any additional charges
- Fewer voids and access to a larger group of tenants
- Faster payouts in case of charges
flatfair is free for landlords. Tenants simply pay flatfair a small membership fee, equal to the value of one week’s rent + VAT (split evenly between the household) and cover the cost of any lawful charges at the end of their tenancy.
flatfair helps tenants and landlords settle end of tenancy charges quickly, fairly and securely, whilst protecting everyone through government-authorised Independent Dispute Resolution.
flatfair is insured by an A-rated financial institution and has watertight processes in place, delivering high success rates when collecting owed sums from tenants.
Is flatfair insurance?
No, flatfair is not insurance. As with a deposit, tenants remain fully liable for any sums owed under the Tenancy Agreement.
What are my responsibilities as a landlord?
Your responsibilities as a landlord are the same as they would be under a standard cash deposit scheme, except that you or your managing agent must use www.flatfair.co.uk to update your personal and property details and always act in good faith when resolving charges.
flatfair seeks to be completely transparent. With flatfair:
- Tenants do not need to tie up large sums of cash for a long period
- Tenants have access to a wide range of properties
- At the end of the tenancy, if tenants do not pay up, flatfair may offer to purchase the debt due to the landlord for up to 12 weeks’ worth of rent.
- The lower upfront costs for tenants and faster payouts for lawful charges through flatfair when an offer to purchase is made can help landlords re-let properties faster.
- A close collaboration between all parties ensures that charges are dealt with fairly and paid promptly, whilst maintaining the accommodation quality.
- Letting agents receive a commission to cover their flatfair administration cost.