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Reposit

PAY LESS. LIVE MORE.

Reposit is an alternative to the traditional deposit. Rather than the traditional method of paying a deposit, all we ask for is a service charge. This means you can move in faster without having to wait to receive your previous deposit back!

Normally, we would hold five weeks worth of rent as a deposit, but with Reposit you pay them a service charge equal to one week’s rent and that’s it, you’re in!

The whole process is really easy:

  1. Find your new home.
  2. Tell us you’d like to use Reposit and we’ll refer you via email.
  3. You pay one week’s rent as a fee to reposit.
  4. Happily ever after!
  5. If you cause any damage during your tenancy or don’t leave it quite as clean as it was when you moved in, you’ll be charged for rectifying this after you vacate – but we know you’d never do that.

THE T's & C'S

  • Reposit is not a deposit. By purchasing a Reposit, you are paying a service charge equal to one week’s worth of rent to allow you not to pay a deposit and for your Landlord to be added to the Reposit Insurance Policy.
  • The Reposit service charge is non-refundable and cannot be offset at the end of the tenancy.
  • As a tenant, you are still fully responsible for keeping the Landlord’s property in a good condition and paying rent in a timely manner. If you do not, you will be expected to fully reimburse for any fair damage or financial loss the Landlord may experience at the end of the tenancy. If you default on these liabilities this could impact your credit history.
  • As a tenant, it is always your choice whether you rent a property by using Reposit or a five-week security deposit to be protected in a deposit scheme.
  • At the end of tenancy, your Landlord may claim on the Reposit. It is your right to either agree or dispute their claim and Reposit will act as an impartial mediation platform.

REPOSIT FOR LANDLORDS

We have partnered with Reposit who are a tenancy deposit alternative company.

No action is required from you – every time we let one of your properties we will give the tenant the choice to pay a deposit or a smaller ‘Reposit Service Charge.’

If you would like a full breakdown of how the Reposit system works, please just get in touch with your account manager and they’ll send over the full t’s & c’s.

THE BENEFITS

  • More cover. The government has recently enacted a policy capping traditional deposits to five weeks, so Reposit can give you three weeks extra protection by giving you eight weeks worth of rent as cover.
  • Quicker payouts at end of a tenancy. In the unlikely event that a claim goes all the way through to arbitration, Reposit will obtain a final verdict much quicker than the traditional deposit schemes.
  • Decrease void periods. If we can advertise your property with a ‘deposit free option’ it will let quicker especially now deposit free renting is attracting a lot of interest.
  • The same cover, happier tenants. Completely secure cover backed by Canopius- more details inside the Reposit Landlord brochure attached.
  • Increased demand from a wider range of tenants. Reposit makes renting more accessible to good quality tenants who easily satisfy rent affordability but do not have access to a large sum of money at the start of the tenancy.