Meet the Southampton nurse who's renting smarter with Canopy

Written by
James Dwyer
May 6, 2020

Stumping up a huge deposit to start a tenancy then having your regular rent payments ignored by credit reference agencies is a bitter pill to swallow for many renters but that isn’t the case for nurse Rachel McEnery, who is using Canopy to cure her rental woes.

Rachel is one of a growing number of renters becoming disillusioned with the traditional rental process.  Thankfully, paying her rent with Canopy has put an end to Rachel’s top two criticisms – finding the cash for a deposit and difficulty recovering a deposit at the end of a tenancy.

 “The UK rental market is very complicated and seems to favour landlords and agents,” comments Rachel. “Sometimes I’ve had to work extra shifts in the hospital to fund a deposit, while I’ve also delayed moving from a property I was unhappy living in until I’d saved enough for another deposit.”

 As an experienced renter, Rachel grew tired of this cycle. “I had to wait 3 months to get a deposit back from one landlord. I had to confront him at his house and when he eventually returned it, he’d removed 15% with no explanation. The main attraction of using Canopy was not having to pay out for a deposit up front.”

We know many renters relate to Rachel’s story but there is good news. Deposit Free renting from Canopy proves hard earn cash doesn’t have to be swallowed up by a deposit and end of tenancies can be drama-free, as there’s no deposit to recover.

 Deposit Free renting means Rachel’s finances are in a healthier state. “I was able to use the money I had saved by not paying a deposit to buy new furniture and now I can save for my own place as I don't have money tied up in a rental deposit,” adds Rachel.

 Not being able to save for your own property is a reoccurring theme among today’s renters and DepositFree renting is just one way that Canopy is helping address the issue. As soon as Rachel signed up with us, she also created her digital Rent Passport. Her rent payments now count toward her credit report, thanks to our partnership with Experian, and financial organisations will quickly see that Rachel is responsible with money. This opens the door to better credit card, mortgage and insurance products.

 “Until I came across Canopy I didn't even know it was possible for rent payments to be shared with credit reference agencies. Now I am keen to improve my credit score as I want my next move to be to a property I own. Canopy seems to be making it fairer for renters as otherwise the rent isn't recorded anywhere." 

 “Starting with Canopy was very easy and so quick. Once I had set up my Deposit Free cover, all I had to do was pay my rent for the month. It meant the process was seamless and was by far the most stress-free move I have ever made. It takes all of the stress and worry out of renting. I would definitely use Canopy in the future and I have also recommended it to friends.”

 If, like Rachel, you want to ditch the rental deposit and build a better credit score at the same time, sign up to Rent Tracking online or download the Canopy app on iOS. You may also like this Telegraph feature – in which Rachel features – on building a credit rating without a credit card.




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