Whether it’s Meerkat toys with your insurance or colour-changing spoons with your cereal, freebies are all the rage. Now, two new offers are looking to sweeten the deal for prospective tenants.
Until now, property incentives were generally only offered by housebuilders enticing buyers to shiny new developments, and mortgage lenders plugging their latest fixed-rate deal.
But in recent weeks, two companies have launched new rental deals offering something a little different for the capital’s tenants.
Build-to-rent developer partners with Uber
The build-to-rent developer Moda Living has partnered with the taxi hailing service Uber to offer tenants up to £100 a month in credit if they agree to not have a parking space for their rented home.
The developer claims that the move will put urban space to better use and help to reduce congestion and air pollution.
Moda Living plans to develop up to 6,000 rental-only homes in England and Scotland, with the first (Manchester’s April Gardens) due to be completed in 2019.
Would you rather have your own parking space or £100 a month Uber credit?
Rent in London without paying a deposit
The Uber deal isn’t the only incentive out there for renters in the capital, as Get Living London says it will abolish tenancy deposits from July.
The rental management company will also return existing deposits worth £3m to its tenants, and will offer longer and more secure tenancies.
The offer of a deposit-free home in London isn’t to be sniffed at – new data from the Deposit Protection Service says the average rental deposit in the capital is an eye-watering £1,756.16.
From electric cars to charity donations: the world of property incentives
While renting incentives are fairly new, homebuying gimmicks have been around a long time.
Standard offerings include housebuilders plugging interior upgrades or free stamp duty, and lenders offering cashback deals – the most recent example being Halifax offering a £1,000 bonus to buyers taking out a mortgage with them.
Elsewhere though, the freebies are getting more diverse, as new-build developers look to shift high-end stock in an increasingly tough London market.
If you’re feeling charitable, EcoWorld Ballymore currently gives a £10,000 donation to charity for every home sold at Embassy Gardens in Battersea.
Meanwhile, at a development in Muswell Hill in North London, buyers are being offered free stamp duty and a Renault Zoe electric car worth £18,000 when they buy a home.