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What is Reposit?
Are there any costs associated with Reposit?
Are there any costs associated with Reposit?
Updated over a week ago

As the letting agent, there are no costs incurred by you for using Reposit, and there are also no costs incurred by the landlord of the property.

All costs towards Reposit are paid by the tenant, these costs are:

  • Reposit fee

    The cost of the Reposit is equal to one week’s rent or £150, whichever is greater. This fee is split equally among all tenants named on the Reposit and must be paid prior to their move-in date.

    The Reposit fee is for the use of our services and therefore non-refundable at the end of the tenancy. As the payment is a service fee, if any charges have accumulated during the tenancy, the Reposit fee will not be used to offset this cost.

For example, if the rent is £500 per calendar month, with one week's rent being £115.38, then the Reposit fee will be £150. If there are two tenants named on the Reposit, each tenant will be required to pay £75.

In another scenario, if the rent is £1000 per calendar month, the Reposit fee will be the equivalent of one week's rent at £230.77. If there are two tenants named on the Reposit, each tenant will pay £115.38.

  • Annual fee

    The tenants will be required to pay an annual fee every 12 months they remain in the property. This fee is £30 and is split equally among all tenants named on the Reposit.

    The whole fee is applicable regardless of how long the tenants remain in the property after the 12-month anniversary date.

  • Tenant swap fee

    If you add an incoming tenant to an existing tenancy, they will be required to pay a £50 fee to be added to the Reposit.

    They will not be required to pay the initial Reposit fee (mentioned in the first point).

  • Dispute fee

    If you as the agent submits any end-of-tenancy charges against the tenants, they will have the option to accept or dispute these. If they choose to dispute, the case will undergo Alternative Dispute Resolution (ADR)

    If the tenants wish to dispute the charges they will be required to pay a £60.00 fee to register their dispute. This fee is in place to stop any unscrupulous disputes.

Renewing a Reposit

There is no cost to extend or renew a Reposit. There is simply the annual fee which the tenants are required to pay every 12 months they remain in the property.

Periodic tenancies

If the tenants are on a 6-month rolling contract, you can extend the Reposit if the tenants choose to stay in the property. They will only be charged the annual fee if their tenancy exceeds a 12-month period. An annual charge will then continue to apply every year on the anniversary date, for as long as they remain in the property.

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