Shared-living platform COHO has partnered with Zero Deposit to offer renters alternatives to traditional cash deposits and personal guarantors.
Zero Deposit’s Guarantor+ and Zero Deposit Guarantee products will be available through COHO’s tenancy application process, targeting barriers faced by students, young professionals, self-employed tenants and international renters.
The integration means renters can consider the options while applying for a property rather than arranging separate services after finding a home.
COHO says its platform data now represents 150,000 tenancies.
UPFRONT COSTS
The Zero Deposit Guarantee allows eligible renters to pay the equivalent of one week’s rent plus a set-up fee instead of providing a traditional cash deposit.
The payment can be made upfront or spread across 12 monthly payments through its Flex option. Tenants can still choose to provide a conventional cash deposit.
Guarantor+ provides an alternative for eligible renters who cannot provide a suitable personal guarantor, while offering rent and legal protection for landlords and agents.
Alec Mckenzie (main picture, inset right), Commercial Director at Zero Deposit, says: “COHO’s own research shows that affordability remains the number one reason people choose shared living, while its platform serves a diverse and increasingly important part of the rental market.
“We want to make sure good tenants can access the homes they want without unnecessary barriers created by deposits or traditional guarantor requirements.”
SHARED LIVING
Vann Vogstad (main picture, inset left), Founder of COHO, says: “By bringing Zero Deposit’s deposit and guarantor options directly into our platform, we can give tenants more choice, make moving more affordable, and open the door for people who may struggle to meet the upfront requirements.
“For landlords and agents, it creates a smoother application process and fewer delays while importantly also providing reassurance that the right protections are in place.”
