A Reposit is an alternative to the traditional tenancy deposit. With a deposit, the tenant pays a lump 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.
Properties with Reposit often have lower void periods as the property is more affordable and tenants can move quickly rather than waiting to receive their previous deposit back.
The process is super simple and all done online!
If you are a private landlord it takes just 5 mins to sign up and create a Reposit. Better yet, we will pay you commission on each Reposit you process.