HouseME's new product cuts out the need for deposits

HouseME launches its latest product, DepositFREE, to help tenants lease residential property without paying the deposit first

Formed in 2015 and available to the public by the end of 2016, HouseME is a digital platform that connects prospective tenants to landlords with full automation of the letting agency process, and fair and transparent rental pricing – all for a fraction of traditional fees.

With DepositFREE, tenants can choose to pay a little more for their monthly rental instead of paying the upfront security deposit. For landlords, HouseME provides full coverage against the value of the deposit. 

“Given the impact the current economic climate has on tenant purchasing power and vacancy rates across South Africa, HouseME built DepositFREE to ease the burden for tenants and, of course, to continue helping landlords fill properties rather than lament their lost rental,” said HouseME Chief Operating Officer Lorne Hallendorff.

“Deposit coverage funds everything a normal deposit would cover, at no extra cost to landlords. It will have no impact on a landlord whether a tenant is renting DepositFREE or not. We are excited to bring this new product to market as it will make a significant impact to South Africans with limited disposable income. We have already trialled it with some of our tenants and the results have been promising.”

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