A Reposit is a faster, more affordable way to provide your landlord and letting agent with peace of mind and cover. You simply pay an initial service charge equal to one week’s rent instead of up to six weeks’ deposit. In return, your landlord will benefit from becoming a beneficiary of our insurance policy, underwritten by Canopius. In the event that a tenant defaults on fair payment, our insurance partner Canopius will pay them up to 6 weeks' worth of damages and rent arrears.
The initial charge isn’t refundable at the end of your tenancy but you can spend the other five weeks of cash on whatever you like - take a holiday, furniture, or start saving to buy your own home. As a tenant, you are still held liable for any unreasonable end of tenancy charges or rent arrears just like a standard deposit. Any fair and agreed charges should be reimbursed to the landlord directly from yourself through our online platform.
When you move again, so long as you haven’t caused any unreasonable damages, kept up to date with the rent, and cleaned the property, you’ll pay a lower Reposit on your new home!