Zero Deposit™ appoints new Market Development Director

Alec McKenzie joins Zero Deposit™ where he will be elevating innovation and resident experience within the Build to Rent sector.

Alec McKenzie has joined Zero Deposit™ as its new Market Development Director | BTR News
Alec McKenzie has joined Zero Deposit™ as its new Market Development Director.

In a move aimed at driving innovation and enhancing tenant experiences within the Build to Rent sector, Zero Deposit™ has appointed Alec McKenzie as their new Market Development Director. Alec’s arrival heralds a new chapter of transformative initiatives at Zero Deposit™.

A vision for innovation

Alec brings nearly a decade of market experience in the Build to Rent sector, having developed block Tenant Insurance products for Essential Living in 2015 and supported the design and delivery of around 20,000 Build to Rent units during his time at LOFT® and David Phillips.

At Zero Deposit™, Alec’s focus will be to introduce innovative solutions that revolutionise the rental experience for operators, investors and residents alike.

Enhancing resident experiences

Central to Alec’s mandate is the enhancement of resident experiences. This includes the introduction of new insurance products and tenant services aimed at streamlining processes and reducing barriers to entry in the rental market.

By addressing pain points such as security deposits and tenant insurance, Zero Deposit™ aims to empower tenants with greater flexibility and financial security, thereby fostering a more inclusive and accessible rental landscape.

Driving market expansion

Alec’s appointment comes at a pivotal moment for Zero Deposit™, which has already established itself as a leader in deposit replacement schemes with a 4.6 star Trustpilot rating. The company recently completed a funding round with investors including market heavyweights Connells Group, Foxtons, Kinleigh Folkard & Hayward and Knight Frank.

Zero Deposit™ significantly reduces upfront costs for tenants by replacing traditional cash deposits with a more affordable and accessible deposit replacement scheme. This allows tenants to free up funds for other essential expenses, enhancing their overall financial wellbeing.

Commitment to excellence and regulatory compliance

Zero Deposit™ is the only deposit alternative that provides full regulatory protection to both tenants and landlords, ensuring that its operations meet rigorous standards of transparency, fairness and consumer protection. This regulatory compliance underscores the company’s commitment to maintaining the highest levels of trust and reliability in its offerings.

In accepting his new role, Alec expressed enthusiasm for the opportunity to contribute to Zero Deposit™’s mission of redefining rental security and convenience. 

“Seven out of ten renters chose to use Zero Deposit when presented with the option, this is no surprise when you realise the same number must borrow money to cover traditional security deposits. With an additional week’s rent cover provided by Zero Deposit™ for landlords and claims settled within seven days, it’s a win-win solution for the industry”.

Alec McKenzie, Market Development Director, Zero Deposit™