The alternative to cash security deposits. More Protection. Less Hassle.

How It Works

Reposit is completely free for landlords.

Here’s how it works:

• The tenant is offered Reposit option and chooses it over a cash deposit.
• Once the tenant has successfully completed referencing, the agent creates the Reposit on our platform and the tenant will be invited to sign up and pay the Reposit fee of just l week’s rent.
• Once the tenant has paid, the landlord is covered by Reposit for 8 weeks’ worth of rent.

When the tenant signs up and pays the Reposit fee, they commit to being liable to pay any end of tenancy charges and give us authority to collect these funds from them. Reposit will always attempt to recover the money from the tenant first. If the tenant defaults on payment, our insurers will step in to settle the charges.

Why are deposit alternatives becoming popular?

Cash deposits have been impacted by increasing regulation.

• The Tenant Fees Act 2019 limited cash deposits to 5 weeks’ worth of rent.
• Landlords risk paying up to three times the deposit amount to the tenant as compensation if they are not registered properly.
• End of tenancy disputes can take months to resolve with the government schemes.

Tenants need a more affordable option

A generation of adults have been priced out of the housing market. By 2023, 22% of all households will be rented and people are renting for longer.

Over 43% of tenants need to borrow to pay their cash security deposit. The impact of the financial crisis and COVID-19 have made the need to reduce the upfront costs of renting even more important.

Download our free guide for full information on Reposit’s deposit alternative