Atlas Residential, a build-to-rent developer with over 75,000 international properties valued at more than $7bn, has chosen to partner with flatfair to provide resident satisfaction amongst its new tenants in the UK.
Flatfair, a rental payment technology firm, allows tenants to instantly rent a home with just their debit card without large upfront costs.
Atlas residents in Southampton’s Bow Square will now be able to secure their rental without the need to pay for a security deposit.
Instead, they will simply use their debit card to pay a one-off membership fee worth only one week’s rent plus VAT, with any end of tenancy charges settled when they leave the property.
Tenants can also build up a rental passport profile showcasing their track record to future landlords through flatfair membership, helping to further enhance positive behaviour on both sides.
Landlords also benefit from flatfair’s protection of up to 12-weeks’ rent, as well as fewer void periods between tenancies.
Atlas Residential was founded in the US and launched its first UK scheme in 2017.
Flatfair will be available on all future Atlas Residential developments.
Flatfair raised $11m over the summer from major investors including Index Ventures, early backers of Facebook, Skype, and Just Eat, and the founder of Transferwise.
Mal McCallion, director of partnerships at flatfair, said:“We’re delighted that Atlas Residential has chosen flatfair to bring deposit-free renting to their residents.
“We allow tenants to secure a property without large upfront costs allowing them to move in with minimal fuss – whilst also offering industry-leading protection to landlords.
“We’re looking forward to helping both Atlas Residential and its residents be part of what we believe is the future of lettings.”
Yasmin Luscombe, Bow Square community director at Atlas Residential, added: “Our mission is to achieve the highest resident satisfaction for all of our projects and partnering with flatfair will accelerate that.
“As we look to expand our UK portfolio, flatfair will help us to ensure that our tenant offering stays at the cutting edge of the sector.”