How to Use the Propoly and Zero Deposit Integration
Exciting news! Propoly have partnered with Zero Deposit Guarantee (ZDG) to allow you to offer Landlords and Tenants the benefits of ZDG through the Propoly platform. This means that tenants moving into applicable properties will have the option to either pay a traditional cash deposit, or to purchase a Zero Deposit Guarantee product depending on their preference.
This new feature is fully integrated within the Propoly platform and really easy to set up. IF you would like to offer ZDG on one of your rental properties, simply follow the below steps.
Step 1: Select the Zero Deposit Guarantee Option
When setting up your deal on Propoly, you will now have the option to offer ZDG to the tenants. You can select the option for ZDG on the "Tenancy Control" page while setting up your deal.
Step 2: The Tenant makes their selection.
As long as the tenant achieves a satisfactory referencing score, the Propoly platform will prompt them to select whether to pay a traditional cash deposit, or to purchase a Zero Deposit Guarantee, as in the image below.
All of the options are fully explained to the Tenant, allowing them to make an informed choice based on their own circumstances and financial position. Once the tenant has made a decision, they can select which option they would like to proceed with from the screen below.
Step 3: Monitoring the Tenant's Progress
As with every other step along the way, you will still be able to monitor the entire process through your Propoly platform. The system will keep you informed about what stage the Tenant is at regarding selecting their Deposit option, as in the screenshot below.
Step 4: Confirming the Zero Deposit Guarantee is in place.
If the Tenant chooses to proceed with one of the Zero Deposit options you will be able to see the status of the policy through the deal on your Propoly platform. This allows you to make sure that the product is definitely in place and that payment in full has been received, before you activate the tenancy.
Congratulations! As you can see, offering Zero Deposit Guarantee through Propoly is a straightforward process that is easy to complete. You will now be able to offer your tenants the option of using ZDG instead of a traditional cash deposit. This provides a more flexible and affordable option for tenants while still protecting landlords and agents.