For a Tenancy to be eligible for Reposit, you must obtain a full reference report and decision for all Tenants from an independent referencing agency. We cannot accept reference checks that have been conducted in-house.
The reference check must evaluate the Tenant’s:
Identity: To verify the Tenant’s genuine identity.
Credit History: To detect any history of adverse credit such as CCJs, IVAs or bankruptcy. Tenants with no UK credit history or otherwise where a credit check cannot be performed will require a Guarantor to be eligible to use Reposit.
Income and Affordability: To verify the Tenant’s source(s) of income and confirm that the Tenant's annual income is:
i) not less than 30x the monthly rent (excluding bills or other non-rent charges); Or ii) determined as sufficient to meetthe rent payments based on the Tenant’s financial data obtained through Open Banking.
To be eligible for Reposit, the report will need to show that the Tenant has passed.
Conditional Pass:
If a Tenant is determined as acceptable with conditions, you will need to be able to provide evidence that those conditions have been met. Where a Guarantor is required, they must be referenced and meet as applicable the above or below criteria, and you will need to provide the Guarantor’s details to Reposit (as indicated on your Reposit dashboard).
Important Note: Reposit reserves the right to request evidence that a reference check has been carried out, and that the Tenants and/or their Guarantor has met the criteria. Failure to comply with the above obligations will result in the Reposit cover being
void.
Company Guarantors
You acknowledge and agree that a Company Guarantor must be provided by one of the following entities:
Oh Goodlord Ltd (T/A Goodlord),
Barbon Insurance Group Limited (T/A HomeLet / Let Alliance),
Rent Guarantor Holdings PLC (T/A Rent Guarantor),
Rentr Solutions Ltd (T/A Rentmigo), or
The Lettings Hub Limited
You acknowledge and agree that if the Guarantor under a Tenancy Agreement is a Company Guarantor, then the use of the Reposit Product is subject to the additional restrictions set out in our Terms and Conditions relating to Company Guarantors. This
means for any claims for Charges shall be limited to non-rent arrears claims only, for example dilapidations, re-let fees and item removals; and (ii) shall exclude claims for rent arrears.
Exception for Student Tenancies:
Where the Tenants named on a Tenancy Agreement are all students, the above criteria does not apply. Instead, you may conduct or obtain a reference check on the Tenants’ Guarantors that evaluates the Guarantors’:
Identity: To verify their genuine identity; And either
Credit history: To demonstrate they do not have adverse credit such as an unsatisfied CCJ, IVA or bankruptcy; Or
Income and affordability: To show their annual income is: i) not less than 30x the monthly rent (excluding bills or other non-rent charges); Or ii) determined as sufficient to meet the rent payments based on their financial data obtained through Open Banking.
To benefit from this exception, you will need to provide evidence that all Tenants named on the Tenancy Agreement are students.
Such evidence can include:
Communication from the relevant council that they have exempted the property from council tax.
A council tax bill stating that the tenancy is exempt.
A certificate of student status from each Tenant.
A student ID card from each Tenant.