Our new Wilbridge Deposit Free Scheme ('DFS') is an advantageous option when starting a tenancy with us.
Instead of paying the industry standard large upfront deposit equal to 6 weeks rent, you will have the choice to pay ZERO deposit and instead pay a small monthly fee.
This allows tenants to secure a property faster and with greater ease financially.
We are offering the Deposit Free Scheme to all new tenancies started with us after 31st January 2019.
Will also be offering our existing tenants the option of switching to our Deposit Free Scheme at their next renewal - giving back your entire deposit within the space of a week subject to positive Renewal Ratings and satisfactory inspection.
Please find below our full monthly fee schedule and the key terms for our Deposit Free Scheme:
Rent Up to £699 = £25 pcm
£700 to £999 pcm = £30 pcm
£1000 to 1499 = £35 pcm
£1500 to 1999 = £43 pcm
£2000 to 2499 = £58 pcm
£2500 to 3999 = £78 pcm
+£10 if pets have been permitted in the property.
(I) If during the course of your occupation your rent increases push you into a higher rate threshold in the above table, then you will be required to pay the new rate.
(II) This monthly payment will be payable for the duration of your occupation.
(III) This monthly payment does not constitute part of your rent, but a separate fee payable to Wilbridge Group Limited. Tenants are joint and severally liable.
(IV) Your monthly payments are a fee for opting out of paying a deposit. You do not receive any money back at the end of your tenancy.
(V) Upon vacating the property you are still liable for damage done to the property in the course of your occupation that does not constitute fair wear and tear. This is the same procedure as having a standard deposit.
(VI) Upon checkout (a cost incurred by the tenant per your AST) if there is damage, DFS or rent arrears or a lack of professional cleaning paid for (also payable by the tenant per your AST) then you will be invoiced to cover remedial work. In the unlikely event this occurs and there is a dispute that arises, we will appoint an independent third-party mediator to assist in reaching a settlement. If a settlement cannot be agreed then the debt will be passed to a debt collection agency/small claims court to pursue the claim. This is the same procedure as having a standard deposit.