Joint tenancy agreement
The cost of your Reposit is equal to one week’s rent (subject to a minimum of £150). This fee is split equally amongst all tenants named on the Reposit and must be paid prior to your move-in date.
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.
Your 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 your tenancy, your Reposit fee will not be used to offset this cost.
For a tenancy where there are multiple tenants named, all the tenants are jointly and severally liable for all end-of-tenancy charges that the letting agent/landlord may submit, not just a portion of them. These charges are not allocated individually to each tenant but are submitted as a whole against all tenants on the Reposit.
Annual fee
If you and your co-tenants stay in the property for longer than 12 months, you will be required to pay an annual fee every 12 months you remain in the property. This fee is £30 and is split equally amongst all the tenants named on the Reposit.
The full fee is applicable regardless of how long you remain in the property after the 12-month anniversary date.
Individual tenancy agreement
With an individual tenancy agreement or HMO, each tenant will have their own Reposit linked with their individual room. Your Reposit fee will be equal to one week’s rent (subject to a minimum of £150) of your room’s rent.