Rent properties without the cost of a deposit

Reposit is an alternative to the traditional tenancy deposit. With a traditional deposit, the tenant normally pays five weeks’ rent, which the landlord or letting agent is legally obliged to register with a deposit scheme (see The Housing Act 2004).

Reposit provides tenants with a more affordable option than the traditional deposit scheme and at no cost to your landlords. The tenant simply pays a non-refundable service charge, equal to just one week’s rent.

The process

Step 1: Tenant finds their new rental property

Step 2: Agent refers the tenant to Reposit via our platform

Step 3: Tenant pays a non-refundable fee of one week’s rent

Step 4: Landlord is covered by insurance for up to 8 weeks’ rent

How do your landlords benefit?

• Attract more tenants by offering them the chance to save on upfront costs, filling their property faster and reducing void periods
• Up to eight weeks’ rent as cover for their properties. More coverage than a cash deposit – landlords receive eight weeks’ worth of cover, which offers the same protection as a deposit.
• The end of tenancy process is managed by Reposit – unlike some of our competitors who leave this up to the landlord and tenant.

Like a traditional deposit, tenants will remain liable for any unreasonable damage or rent arrears at the end of tenancy.

All parties have to agree on this method before it can be taken, and the agent must go through a brief training session.