Some letting agents offer deposit free schemes which allow prospective tenants to rent a property without paying a large up front deposit. These schemes may be advertised under different names, such as Zero Deposit or No Deposit, and vary in how they work and what they offer.
Before signing an agreement to use one of these schemes, tenants should be careful to make sure they fully understand how the scheme works in order to avoid unexpected costs. For example, these schemes may not cover the cost of damage caused to the property during the tenancy and the money paid typically isn’t refundable.
Further information is available on the Shelter website:
Zero deposit companies – Shelter England
Options if you cannot afford a deposit or rent in advance – Shelter England