Deposit Free Rentals – InsureStreet aims to work with Generation Rent

Tahir Farooqui

Tahir Farooqui

Founder & CEO

Why is renting so expensive? If we are all different, why then should everyone pay the same deposit? How can deposits be structured in a manner which eases the cash-flow burden for renters? What role can Insurance and Technology play to answer these questions? These are some of the questions which the Founder of InsureStreet, Tahir Farooqui hopes to answer working with Reputable Landlords, A gents and Tenants.

Mayor of London, Sadiq has made it clear that housing remains “a number one, two and three priority”. Sadiq has argued for firms to help ease the pain of renting by offering loans to employees to help cover deposits. He stated that people being priced out of London, “… is bad for Londoners and bad for the future economic success of the capital”. Anything to help relieve the rental issue will be key to keep talent flowing to London, especially with the potential implications of a “Hard Brexit”.

With the population of London expected to rise to 10 million by 2033 (or even by 2029), according to City Hall, the issues of attracting talent to London may become increasingly difficult if this rental issue worsens. In 2016, The professional services firm Deloitte pre-booked rented homes in the East Village last year for more than 40 of its graduates.

InsureStreet, in partnership with HISCOX has launched an innovative deposit insurance product which will replace cash deposit with a simple insurance policy and reduce cash outlay for a new lease by up to 95%!

 

“A good REPUTATION is more valuable than money – Publiluis Syrus”

 

If tenants pay rent and bills on time, look after Landlord’s property and have had very few claims on deposit insurance policy; the platform rewards good behavior through a no claims discount. When it’s time to move again, Tenants’ can share their RentPassport™ and move into the house they like.