Why should I use Reposit, how is it different to a deposit?

The question is why wouldn’t you? With Reposit you receive 8 weeks’ worth of tenancy cover which is 3 weeks more than a cash deposit - completely free of charge to you! 

You will also benefit from more interest in your properties and faster lets since tenants won’t need to pay for a hefty lump sum deposit to move in. Not to mention you will have happier tenants!

 

Are tenants still liable for any caused damages?

Yes, tenants are made aware of their liability prior to purchasing a Reposit. They will be required to cover any costs for caused damages, cleaning costs or rent arrears. 

Is it compulsory for all tenants to use Reposit?

As a non-mandatory fee, Reposit must be offered as a choice to tenants. 

How long does a Reposit last? 

The Reposit can be set up for any length of tenancy for up to two years, initially. You can then continue to extend the Reposit from your dashboard as the tenancy extends.

You can only extend a Reposit two years into the future at any given time. However extending a Reposit is quick and simple, please refer to our tutorial which shows you how to do this.