We understand that there might be instances where the cancellation of a Reposit is required due to unforeseen circumstances, such as a tenancy not proceeding or a decision by either the tenant or landlord not to use Reposit.
The cooling off period
Tenants have a 14-day period after the purchase date to cancel their Reposit and claim a full refund, provided the tenancy has not yet commenced.
If we receive a cancellation request directly from the tenant during this period, we will inform you (the managing agent) that the Reposit will be cancelled and that you should discuss next steps with the tenant regarding the tenancy.
After this period, the tenant can still request cancellation of the Reposit before their tenancy start date, however, they will need the consent of their managing agent, before their request can be processed.
Cancelling the Reposit as an agent
Managing agents can cancel Reposits from their dashboard before the tenancy start date by following the steps below:
Login to your Reposit dashboard
Select the Reposit you need to cancel
Scroll to the bottom of the page and click the 'cancel Reposit" button
Confirm cancellation by clicking 'Yes' on the pop up screen.
If the Reposit start date has passed and you are unable to cancel the Reposit from your dashboard, please email us at hello@reposit.co.uk with the following information:
Full property address as on the Reposit
Full name and email address of the tenant
Will the Reposit fee be refunded?
If the Reposit is cancelled before the start date, a full refund will be processed immediately.
If the tenancy start date has passed, but the tenancy did not proceed, please send an email to our team and we will cancel the Reposit and refund the fee paid by the tenant(s).
Will I be charged anything?
You must cancel the Reposit as soon as possible. If a Reposit is cancelled more than a month after the start date, there is a £50 penalty fee which will be deducted from your future commission payments.
In addition, please note that we will deduct any commission payment you have received for a Reposit that is cancelled from future commission payments.