Alto announces new integration with Zero Deposit

14th February 2024

Alto, the leading cloud-based software for agents and part of Houseful, has announced a new integration with Zero Deposit – the UK’s leading alternative to a traditional security deposit.

Zero Deposit is Alto’s latest client referral partner, enabling agents to give their customers access to market-leading services that take the stress out of moving.

Research by Zero Deposit shows that 65% of tenants^[1] would opt for an alternative to a traditional security deposit and Zero Deposit already works with many of the UK’s largest letting agents including Connells Group, Foxtons, LSL and Knight Frank and is the only deposit alternative partner within the Alto marketplace.

Through the integration, Alto agents can provide their customers with a fully regulated and automated deposit replacement experience – and can also remove the administrative burden associated with the end of a tenancy through faster claims payments.

Zero Deposit also provides transparency for tenants, with 100% of lets protected with 6 weeks’ worth of cover – even with a cash deposit where Zero Deposit tops up the extra week. 75% of landlords would instruct a letting agent offering this proposition (vs one that didn’t)^[2]. For an average £1,200 cash deposit, tenants can cover the cost of securing their next rental property for as little as a £24 upfront (plus £49 Setup Fee)[3].

Riccardo Iannucci-Dawson, Chief Operating Officer at Alto comments:

“The main barrier for today’s tenants is raising a deposit with over 70% of tenants borrowing to fund their deposit. Zero Deposit removes this barrier, widening the pool of prospective tenants for letting agents and ensuring they find the perfect match for their landlords. We’re delighted to partner with the leading provider in this space and believe that implementing Zero Deposit is an easy way for Alto customers to stand out from the competition.”

Sam Reynolds, CEO at Zero Deposit comments:

“There has been considerable interest from our partners in launching an integration with Alto.  A seamless experience that arms our partners with more tools to win instructions, attract the best quality tenants and benefit from a radically improved end-of-tenancy experience. It’s a win for landlords, tenants and letting agents.”

[1] Source: Zero Deposit internal data Feb ‘24 based on 1194 tenants.

[2] Source: Zero Deposit panel of 50 landlords Mar ’23.

[3] Source: Based on a £1,200 cash deposit, premium payment of £24 spread evenly over 12months.