A conversion membership is offered to existing tenants who already paid their deposit. This is optional and allows tenants to unlock their existing cash deposit by becoming flatfair members.
In order to create a conversion membership and help tenants unlock their cash deposit by becoming flatfair members, the following criteria must be fulfilled:
- The property must meet flatfair's minimum property qualification criteria
- Tenants must meet flatfair's minimum referencing criteria
- Tenants must not currently be in rent arrears
- Tenants must not have any rent arrears in the last 6 months
- Tenants must have at least 6 months remaining on their fixed-term tenancy
- The existing AST should be updated to a flatfair-specific AST, or a flatfair AST-Addendum is to be produced when creating the conversion (RECOMMENDED)