Upon the tenant(s) completing their Reposit account and paying the service fee, the landlord of the property (as stated on the Reposit) is added as a named beneficiary on the policy covering the tenancy.

Tenants have a cooling off period of 14 days during which they can cancel the Reposit. However, please note that this cooling-off period does not apply once the tenancy start date has commenced. If we receive a cancellation request from the tenant during this 14-day period and before the tenancy start date, 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. This is to ensure the landlord is not left without protection.

As a named beneficiary, the landlord is given the protection of recouping up to 8 weeks' worth of rent in the event that the tenant causes unreasonable damage, cleaning is required, re-let fees have accumulated or they have outstanding rent at the end of the tenancy.

It’s also worth noting, that Reposit is FCA-authorised and FSCS-protected.

We honour whatever is in your own contract with the tenant up to the value of 8 weeks’ worth of rent.
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This includes but is not limited to:

*for tenancies that commenced on or after 1st August 2021. Such fees must be considered reasonable, properly evidenced with invoices or receipts, and compliant with the terms of the Tenancy Fees Act 2019.

In compliance with the Tenancy Fees Act, rent penalties or claims for rent arrears that have not yet accrued by the date the claim is submitted to Reposit, will not be covered.