flatfair

flatfair: rental deposit platform for agents, landlords and tenants

flatfair is a British company that operates a comprehensive platform for rental deposit management. Its offering combines traditional deposits with a deposit-free alternative, aiming to reduce the administrative burden on letting agents and offer more options to tenants and landlords. The company states that its deposit solution is trusted by more than 850 agents and Build-to-Rent operators.

Products and services

flatfair's catalogue includes several solutions aimed at different players in the rental market:

• No Deposit: allows tenants to rent without paying a traditional deposit. Instead, they pay a non-refundable fee equivalent to 28% of monthly rent, plus VAT, instead of a traditional five-week deposit.
• Unlock Deposits: unlocks cash deposits and offers up to 10 weeks' protection.
• Deposits: streamlines the traditional deposit management process.
• Referencing: tenant verification service that aims to save time and increase security.
• Deposit Boost: provides landlords with additional damage protection, beyond the standard cash deposit.
• Tenant Guarantor: allows access to a home without the need for a traditional guarantor.

Benefits for agents and Build-to-Rent operators

According to the company's information, agents and Build-to-Rent operators choose flatfair for three main reasons. First, the platform administers all traditional deposits in the agent's preferred scheme free of charge, saving an estimated 60 minutes per tenancy. Second, the offer of up to 10 weeks' protection for damages or rent arrears and the reduction of void periods help attract more landlords. Finally, the elimination of human errors and missed deadlines in deposit registration improves regulatory compliance.

Offer for landlords and tenants

For landlords, flatfair offers an end-of-tenancy protection service that includes dispute handling, recovery of amounts and associated administrative tasks. For tenants, the deposit-free alternative reduces upfront moving costs: instead of a traditional five-week deposit, they can opt for a non-refundable fee of 28% of one month's rent plus VAT. The company notes that tenants spend an average of £3,350 on moving costs and that many have to pay a new deposit before getting their previous one back.

Origin and background

flatfair was founded with the mission to transform the UK rental system, inspired by successful deposit alternatives in Germany and Switzerland. Its founders, Franz Doerr, Daniel Jeczmien and Bartosz Alksnin, had experience at companies such as Google, Deutsche Bank and American Express. Since 2021, Gary Wright has served as CEO. The company has raised significant capital, including an $11 million round led by Index Ventures, a fund that has backed companies such as Facebook, Deliveroo and Slack.

Structure and presence

flatfair's headquarters is in central London, although most of the team works remotely from various locations across the UK and beyond. The core team meets at the office one day a week to collaborate. Flatfair Limited is a company registered in England with company number 10487576 and registered office at 3rd Floor, 86-90 Paul St, London, England, EC2A 4NE. flatfair is a registered trademark and the trading name of Flatfair Limited, and is not an insurance company.

Location and contact

3rd Floor, 86-90 Paul St, London, England, EC2A 4NE