Joint tenancy agreement
The Reposit fee (equal to one weeks’ worth of rent) will be split equally between the number of tenants.
For example, if the monthly rent is £1500 and there are three tenants on a joint tenancy, each tenant would pay £115.39 to equal the total £346.15 (which is the equivalent to one weeks’ 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.
Individual tenancy agreement
With an individual tenancy agreement or HMO, each tenant will have their own Reposit linked with their individual room. Their Reposit fee will be equal to one weeks’ rent on their room cost.
If your tenant is on a 6-month rolling basis, then 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 for a further 6 months on your dashboard.