A Reposit is an alternative to the traditional tenancy deposit.
With a deposit, the tenant pays a large sum (usually six weeks’ rent) which the landlord or letting agent is legally obliged to register with a deposit scheme (see The Housing Act 2004).
With Reposit, the tenant pays us a small non-refundable fee, equal to just one week’s rent. The tenant is still liable for any damages up to six weeks’ rent value. If there are any claims for end-of-tenancy payments we recover the money from the tenant and send it to you.