North East letting agent KIS, claims to be the first in the UK to abolish tenancy deposits, replacing them with a landlord insurance policy.

The company last week signed an exclusive deal with an insurance broker and insurance provider to launch Let By Cover, which removes the need for a guarantor and offers tenants and landlords a guaranteed rent, help with legal fees, potentially cheaper than average move-in fees, and round-the-clock emergency home repairs, administered by a third party.

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