Mid-Tenancy Change - Switchover From Deposit to Reposit

What is a Switchover and when is it used?

The term Switchover refers to a type of Reposit that tenants can purchase during their tenancy or at renewal. It enables them to “switchover” from a traditional deposit to a Reposit. 


The benefit to tenants requesting a Switchover is that they can receive cash back from their original deposit, whilst landlords can increase their protection from the usual 5 weeks worth of rent to 8 weeks. 


Switching over to a Reposit can also help to retain tenants and reduce voids or issues of rent arrears.



Is my tenant eligible for a Switchover?

  • The tenant(s) must not have: 
    • Any outstanding rent arrears
    • Any rent arrears* in the last 6 months or since the start of their tenancy - whichever is most recent
      • *This is classified by the rent being overdue for more than 24 hours after the due date. Any rent payments received after 24 hours of the due date do not qualify for our Switchover product. 
    • Agreed to any rent payment holidays in the last 6 months or since the start of their tenancy
  • All tenants in the property must agree to use Reposit, there can’t be a split of deposit and Reposit users
  • There must be no changes to the existing tenancy agreement in place, ie no rent increases or tenant changes. If the rent does increase, tenant affordability must be validated again. 


This criteria is additional to the normal Reposit eligibility criteria, as specified in our terms of business.  For example, DSS tenants are not eligible for Reposit and all tenants must have passed our referencing criteria.



How do I use and initiate a Switchover?

You do not need the tenant(s) to sign a new tenancy agreement or go through referencing again. 


Our only requirements are:

1) A detailed interim inspection report must be conducted. This will be used as the basis for any claim under the Switchover policy (in place of what would normally be the check-in inventory). 

However, we are still entitled to review the original check-in inventory if requested, so please keep a copy of this. 

If damages are found during the interim inspection, the cost for repair or replacement must be taken from the tenant’s existing deposit. Reposit will not cover for any damage caused prior to the Reposit commencement.


2) A signed Reposit addendum to the tenancy agreement or AST. An example can be found attached below.

As mentioned you don’t need to issue a new tenancy agreement, but the landlord and tenants must sign our addendum to the AST to show that they are using Reposit and not a cash deposit. 


For a tenancy to be eligible for a Switchover, there must be no changes to the original tenancy agreement. For example, with a change in tenants named on the agreement, you will be required to create a new Reposit and will not be able to use a Switchover. The standard Reposit criteria would apply. 

If there is a rental increase, you will be required to carry out new affordability checks, however, you can still continue with a Switchover.

On your Reposit dashboard, select "Existing tenancy".


What date should the Switchover Reposit start from?

If the tenancy is eligible for a Switchover, you can create a Reposit and enter the Reposit ‘start date’ as the date that the interim report has been finalised and signed by the tenant(s). 


Please note that the tenant(s) will need to pay for the Reposit for it to be active and to ensure the landlord is covered.


If the tenant(s) do not complete and pay for the Reposit, then the landlord will not be covered for any end of tenancy charges. 


We advise that you do not return the tenant’s deposit until the Reposit has been fully paid for. This is to ensure cover is in place for the landlord during the transition.