Making it easier to rent without a deposit

Back to news

A new scheme which allows tenants to move in without a deposit could speed up the property rental process for both tenants and landlords.

The Smart Deposit Warranty allows tenants to move in without paying a large deposit and provides landlords with up to two months’ rent if things go wrong.

Independent estate agents Sims Williams have launched the new scheme through their offices in Chichester, Arundel and Walberton.

 

Protection for landlords and tenants is vital

Landlords have traditionally asked for deposits as the best way to protect their property investment against damage caused by irresponsible tenants.

Although tenants’ deposits are legally protected, it can take a long time for people to save up and can restrict their ability to move quickly.

 

Speeding up the rental process is good news for everyone

Under the Smart Deposit Warranty scheme, tenants can pay a one-off fee and move in as soon as reference checks are completed.

Landlords will attract more potential tenants and claims for damages will usually be paid within 14 days.

 

It’s all about choice

As local lettings and property management experts, Sims Williams will continue to offer nationally-recognised tenancy deposit protection schemes for tenants and landlords (Safe Agent and Tenancy Deposit Scheme) and the new warranty scheme provides an extra level of choice.

Sims Williams lettings manager David Vawdrey believes offering more choice and flexibility will strengthen the local rental property market.

“We meet lots of great potential tenants who miss out on the chance to rent one of the properties we manage because of the time it takes to save a deposit. Being able to move with zero deposit will really help them.

“For the landlords who trust Sims Williams to let and manage their investment properties, the Smart Deposit Warranty provides as much, if not more cover than a standard deposit, without much of the bureaucracy involved in setting up a deposit protection arrangement,” says David.

 

How the Smart Deposit Warranty works

The Smart Deposit Warranty is provided by FCC Paragon and is available through Sims Williams’ offices in Chichester, Arundel and Walberton.

Once the tenant referencing process has been completed, tenants pay a non-refundable warranty fee instead of a deposit. The fee is equivalent to 25% of one month’s rent.

If a property is damaged at the end of a tenancy, the landlord can claim up to two months’ rental value to put things right.

 

Sims Williams – experience and knowledge you can trust

Sims Williams has been helping people to rent, let and sell their homes since 1981 and its dedicated lettings office in Chichester manages hundreds of properties on behalf of landlords with small and large property portfolios.

If you would like to know more about our property management services or the Smart Deposit Warranty, please call us on 01243 836055 or email chichesterlettings@simswilliams.co.uk.

Be kept up to date

Leave your details with us, so we can keep you fully up to date with property updates.

What our clients say

HOUSE SALE

Sims Williams we had amazing service from everyone, kept us informed all the time, Especially Mel. We would highly recommend Sims Williams to Everyone.
Ian & Patsy Cox - Vendor - Feb 4th, 2021

Brilliant Service

I just wanted to let you know how impressed I have been with the efficient, friendly and tenacious service that Megan has given us in supporting the sale of 8 Shippam Street, which as you may well know has been over year in securing (through no fault of Sims Williams). I should also add that both Calum and Mel have been brilliant, with very efficient handovers and leave covering when needed.
Andy - Vendor - Apr 5th, 2022

SELLING MY PROPERTY

The whole process from start to finish was excellent service. I couldn’t recommend the team at Arundel more highly. A special mention to Emma Taylor who followed the final exchange through with much effort reviewing the chain that was below the buyers final completion. Well done with the final Result!
Robbie - Vendor - Dec 16th, 2020

Professional and highly recommended

We have been with Sims Williams (Chichester branch and recently Bognor Regis) for many years and they look after our rented properties very well. The property/ Letting managers (David, Nicola, Jo & Sheila) are professional, helpful, good communication, excellent follow up and always put us at ease. We are very happy with their service and highly recommended them. Thank you for looking after us.
Gee- Landlord - Aug 18th, 2023

I cannot fault Sims Williams and would recommend them in a heartbeat

The common conception of Estate Agents is that they take a few pictures, write a blurb, publish it, show prospective purchasers around a property, and charge you a fortune for the privilege. From the seller's point of view, that may be how it seems. However, after the sale has actually been agreed, the service provided to the purchaser more than justifies the cost. I’ve recently purchased a property through Sims Williams, and they did so much to help. Ambiguity surrounding a tree preservation order was quashed in a matter of minutes, thanks to them having much more up-to-date information than the council. My survey raised a potential concern about damp. Sims Williams provided a damp expert to go and visit the property and compile a report – again resolving this problem very quickly. Lastly, a purchase further up the chain was causing delays. Sims Williams were constantly checking in with me, assuring me that they were chasing and doing everything in their power to help this complete. Obviously, all of this came out of the fee that would have been paid by the seller, so was effectively free for me. Had I have gone back to my solicitor with all these queries, I dread to think how expensive that bill would have been. Through my experience, I cannot fault Sims Williams and would recommend them in a heartbeat.
-

Sim-ply the best!

The ladies of the Arundel Sims Williams branch are magnificent! Friendly, helpful and patient. Always call back. Genuinely caring. Professional and cool in a crisis. They hold your hand every step of the way, and make the very stressful process of selling and buying as smooth as it could possibly be. Would thoroughly recommend.
Freya - Vendor - Jun 22nd, 2021

Excellent service

Chichester letting staff are extremely helpful, they provide a professional service and I would thoroughly recommend them.
Sid - Landlord - Jul 22nd, 2022

EXCELLENT CUSTOMER SERVICE

Very good and thorough service in helping to rent out our property. Communication is excellent and nothing is ever too much bother. Constantly kept in contact along each step of renting out. Would highly recommend using this company.
Jo and Warren - Landlord - Sep 29th, 2020

Exemplary service

Buying through Sims Williams was made as stress-free as possible, with friendly and professional management of the sale. I was kept up-to-date with progress regularly. Really highly impressive. Many thanks especially to Mel and Calum at the Chichester branch.
Peter - Buyer - Feb 8th, 2021

FIRST CLASS SERVICE, HELP AND ADVICE

THE SERVICE WAS SECOND TO NONE, PROMPT, VERY PROFESSIONAL AND COMFORTABLE.
MIKE - Tenant - Jan 25th, 2020