Joint tenancy agreement
The Reposit fee (equal to one week’s worth of rent) will be split equally between the number of tenants.
For example, if the monthly rent is £1,500.00 and there are three tenants on a joint tenancy, each tenant would pay £115.39 (to total £346.15 which is the equivalent of one week’s rent).
Multiple tenants (up to 20 per property) can be added to a Reposit. The fee amount is equally divided between the number of tenants moving into the property and they remain jointly and severally liable for any deductions at the end of the tenancy.
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 you remain in the property after the 12-month anniversary date.
End of tenancy charges
When you submit end-of-tenancy on a Reposit with more than 1 tenant, all tenants will be jointly and severally liable for all charges. You cannot submit specific charges against specific tenants.
Individual tenancy agreement
With an individual tenancy agreement or HMO, each tenant will have their own Reposit linked with their particular room as long as they have individual tenancy agreements. Their Reposit fee will equal one week’s rent on their room cost.
If your tenant is on a 6-month rolling contract, enter the end date as 6 months from the tenancy start date. If the tenant chooses to stay on in the property then you can easily extend the Reposit either month-on-month or for a further 6 months on your dashboard.