The Evolution of Deposit Alternatives

In the first podcast of 2020, Eddie and Paul are joined by the Co-Founders of deposit replacement scheme, Ome, Matt Hooker and Nick Hamatsos, who discuss a new style of deposit scheme that aims to help bring greater choice to the market. Deposit alternatives, also known as deposit replacement schemes, have emerged due to the evolving nature of the private rented sector as well as tenant’s needs and requirements, offering an additional element of choice that can benefit tenants, landlords and agents. Eddie, Paul, Matt and Nick take a dive into the changing world of deposits and investigate how the changing desire for renting flexibility has impacted the market and what this could mean for landlords, agents and their tenants. Matt and Nick explain the advantages for landlords of using deposit replacement schemes, emphasising the importance of market choice and transparency. Eddie and Paul also share their knowledge of the current market and explore the future of deposits, including recent discussions surrounding deposit replacements, deposit loans, and the idea of a lifetime deposit. As always, Eddie and Paul also touch on breaking industry news and, to mix things up for 2020, Eddie asks Matt, Nick and Paul a new closing question, ‘Who would your dream co-tenant be, and why?’