Deposit Replacement for Landlords

Double your protection against non-paying tenants. Our Deposit Replacement solution gives landlords 12 weeks’ worth of protection instead of just 5 weeks’ that traditional rental deposits provide. The best bit? It’s free.

Deposit Replacement for Landlords
It’s free for you

It’s free for you

It’s free for landlords. Tenants pay a small fee equivalent to just one week’s worth of rent, split across monthly instalments.

Extra rental security

Extra rental security

Wave goodbye to just 5 week’s worth of protection and relax knowing that you’re covered for 12 week’s worth of rent.

Professional adjudicators

Professional adjudicators

If you struggle to reach a resolution, we’ve partnered with RICS, a professional adjudicator to help reach an agreement.

What is a Deposit Replacement Scheme?

Deposit replacement for landlords offers you essential protection against non-paying tenants. 

How much is the deposit replacement scheme?

How does a deposit replacement affect my tenant?

How does a deposit replacement scheme work?

Here at Mashroom our landlord deposit scheme replaces traditional deposits with a secure, deposit replacement solution. 

Moving in

  • First up, you would advertise your property with Mashroom, it’s quick and easy to do and takes just 10 minutes
  • You then start receiving offers from tenants with Deposit Replacement built in
  • Tenants pay a small fee equivalent to one week’s worth of rent, split across monthly instalments – and bingo! You receive 12 weeks rental cover to make sure you’re super safe
Moving in

Moving out

  • When it’s time to move out, tenants are responsible for any damages or unpaid rent incurred during their tenancy
  • Tenants and landlords are free to negotiate any end of tenancy settlements together
  • If a dispute arises, we’ve partnered with the Royal Institution of Chartered Surveyors (RICS), so that a resolution can be reached quickly and fairly
  • Here at Mashroom, we pride ourselves on paying landlords first, while we handle recouping from the tenant.

This should all offer you extra peace of mind when unfortunate or difficult conversations or situations arise.

Moving out

Does this give me more security?

Yes absolutely. It gives you more than 60% more protection than normal deposit schemes.  

You can wave goodbye to just five weeks’ worth of protection and relax knowing that with Mashroom Deposit Replacement you’re covered for 12 weeks’ worth of rent. 

Offering you a far greater level of security should anything go awry.

How is this better than a cash deposit?

Mashroom’s Deposit Replacement offers more protection (up to 12 weeks’ worth of rent or 60% more rental coverage compared to a traditional cash deposit of 5 weeks’ rent) for EXACTLY the same cover. 

It also means your home is more affordable and attractive to tenants when they are looking to move, which reduces void periods and makes letting faster and easier. This is especially useful now, as the cost-of-living is rising so much.

How is this better than a cash deposit?

Will this reduce my void periods?

Deposit Replacement makes renting more affordable and appealing to tenants, meaning you’ll get more interest on your property and rent it faster.

Instead of tenants having to come up with extra cash upfront when moving in, they can pay into the rental deposit scheme with instalments from their monthly rent, making it a more affordable and more flexible option.

Do you work with professional adjudicators?

If you struggle to reach a resolution, we’ve partnered with RICS (Royal Institution of Chartered Surveyors), who act as professional adjudicators to help reach an agreement. 

We pay landlords first, while we handle recouping from the tenant, all under our Mashroom guarantee.

Do I have to register Mashroom Deposit Replacement with a protection scheme?

As this is not a traditional cash deposit, you don’t need to register with a protection scheme. 

If you take and hold a cash deposit, it’s important to remember that by law, you must register with a protection scheme. If you don’t, you can be taken to court and face hefty fines

Instead of a registration certificate, we’ll issue you with a Mashroom guarantee, and this can act as extra peace of mind for you without the worry of having to go down the deposit protection scheme route.

What happens at the end of the tenancy if there is a dispute or a claim?

Just like a traditional deposit, you claim from your tenant for any damage or unpaid rent. 

Any disputes that cannot be resolved between landlords and tenants will be advanced to independent adjudicators.

What happens at the end of the tenancy if there is a dispute or a claim?

What happens if my tenant doesn’t pay for the damages they’ve caused?

Our Mashroom guarantee will cover what you are owed if a tenant fails to pay for damage or unpaid rent. From time to time, unfortunate circumstances or disagreements can occur. 

Mashroom guarantees our landlord deposit scheme, for extra peace of mind for you, the landlord.

What exactly am I protected for?

Under our landlord Deposit Replacement scheme, you will be afforded the same cover as a traditional deposit scheme, protecting you against unpaid rent and damage to the property. 

However, our Deposit Replacement covers up to 12 weeks’ worth of rent – more than double the average traditional cash deposit of just 5 weeks’ rent. 

What exactly am I protected for?

How long am I protected for?

Cover lasts 12 months, and if your tenant’s tenancy period is longer than 12 months, we’ll offer you a free renewal of another 12 months. We will take care of reminding you so you can get on with other things.

Is my property eligible for Deposit Replacement?

Most homes qualify for Deposit Replacement, and we’ll notify you of eligibility as soon as you start listing your property with us. All you have to do is follow the steps above to list your property now and we will take care of the rest.

Is my property eligible for Deposit Replacement?

How are you able to offer this product? Do you work with an insurer?

Yes. We are very belts and braces here at Mashroom and make sure that everything is safe, above board and totally legal compliant! We dot the i’s and cross the t’s and so we have partnered with an experienced and highly reputable insurer to ensure extra peace of mind and protection to both landlords and tenants.

Are there any referencing requirements?

Yes. We offer a referencing service from our trusted provider, RentProfile for just £15 per tenant. 

Are there any referencing requirements?

How can I access my Mashroom Deposit Replacement guarantee?

You can access your guarantee by logging into your dashboard where it will be stored. Here at Mashroom, our Document Storage Tool, is a brilliant option for saving a copy of all your documents and paperwork. You can also set reminders of expiry dates for compliance certificates and insurance products to make sure you never miss your checks or mislay your paperwork again!

How can I access my Mashroom Deposit Replacement guarantee?