Three Deposit Replacement Schemes Dispelled for Property Agents
Rent your ideal property faster than before! Landlords, get protected! Tenant, no need forks up hefty deposit!
A “BlueWave” of Zero Deposit is entering the residential and commercial renting market and promising awesome advantages to landlords, agents and tenants.
In the world of renting, traditional deposit and zero deposit can seem confusing. We are here to dispel some common illusions about zero deposit.
Illusion 1: Zero Deposit is Unpopular
Reality: The zero deposit market is booming! Our BlueDuck Zero Deposit mean tenant do not have to pay a hefty of their savings upfront for their rental deposit. Meanwhile, landlords get enhanced protection and agents get a great alternative solution to help them stand out from competitors. We have over 2,000 property agents trained in BlueDuck product and system and that number’s growing all the time!
Illusion 2: Damage is more likely to be created by tenant if no deposit collected
Reality: Some people worry about zero deposit tenants will leave the property in bad condition because they think the zero deposit provider will pay the bill. In reality, tenants are just as liable for damage and unpaid rent as they would be with a traditional deposit. We make sure our partner agent is well trained and brief tenant their responsibility when they buy their BlueDuck Zero Deposit package. In fact, the landlords we work with have greater protection because we give up to 6X higher coverage compare to traditional deposit.
Illusion 3: I will enter into a mis-selling scandal if I sign up for Zero Deposit
Reality: If you are worried that zero deposit could lead to financial claims further down the line, you do not need to be. Bear in mind with all business decisions: do your research! Make sure the providers have a good reputation. At BlueDuck Zero Deposit, we are collaborating with Liberty Insurance Malaysia, a license insurance provider regulated by the BNM, which means we are legally obliged to protect the rights of our landlords and treating tenant fairly as in verifying and qualifying based on their credit history or documents submitted. This authorisation gives our trained agents being transparency when explain to landlord.
In conclusion, Zero Deposit helps tenant to save their cash while still holding tenant responsible. Apart from that, as we have ongoing training for agents making sure that their zero deposit knowledge are updated to reduce on mis-selling. Because collaborating with an insurer does not guarantee that mis-selling will not happen. However, maintaining relationships with agents, being attentive to their problems, and committing to providing the necessary training to equip them with knowledge are all important. We hope this helps make clear about zero deposit easier. Still confused?
Book a slot via calendly.com/blueduck/zerodeposit for Zero Deposit training or call 016-6117154, we'd love to help clear up your queries!
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