Help & Support

Do I have to pay to offer tenants Reposit?

No, Reposit is free for agents and landlords. We don’t charge agents or landlords to sign-up with us or to offer tenants Reposit. In fact, we actually pay you a commission of 5% of the monthly rent. Aside from the benefit of a new revenue stream, we save agents from spending hours registering deposits and remove the risk of fines for not registering the deposit on time.

Which tenants are eligible for Reposit?

Tenants who pass referencing checks or who have a referenced guarantor are eligible for Reposit. We offer a full ID check, credit check, and anti-fraud to all our landlords and partner agents through the Reposit platform, increasing the savings when using Reposit.

Reposit is available for tenants receiving DSS or students with no credit score as long as the landlord/letting agent also accepts a guarantor.

Is the tenant still incentivised to look after the property?

Yes, tenants are still liable for any damages and they will still have to pay any costs at the end of the tenancy, exactly like they would with a deposit. We make the tenant fully aware that we are not offering them insurance when they docusign our terms and conditions.

Additionally, we offer tenants a reduction in their Reposit fee for looking after the property. As long as the tenant leaves the property with no outstanding charges against them they will pay a lower fee on their next Reposit.

What is covered by a Reposit?

We honour whatever is in your own contact with the tenant up to the value of six weeks’ rent. This includes but is not limited to, any damages to the property or garden, missing items, unpaid rent and cleaning costs.

What’s the process if there are damages at the end of the tenancy?

At the end of the tenancy, after negotiating with the tenant as normal, you log in to your Reposit account, type in the charge and reason and it will be sent directly to the tenant(s). Your tenant can pay directly using any card and we pay it across to your nominated account in one working day.

How long does a Reposit last for?

Up to 12 months, but it can be extended after this period if tenants pay a £30 top-up fee every additional 12 months.

How does Reposit work for a joint tenancy or a HMO?

Multiple tenants (up to 20 per property) can be added to a Reposit. They each pay their share of the total weekly rent for the property and remain jointly and severally liable for any deductions at the end of the tenancy.

With a HMO, each tenant simply has their own Reposit for their room at the address and pays their own fee of one weeks rent.

Can I offer Reposit as well as a standard deposit?

Yes, we encourage agents and landlords to Reposit as a choice rather than the only option. In some cases the landlord or tenant may prefer to pay a traditional deposit.

How do I convince my landlords to allow Reposit on their properties?

We understand that your landlords may feel secure if you hold the deposit or put it into a scheme. However, we offer up to six weeks’ rent for any damages or arrears as outlined in your contract.

To help you introduce Reposit, we provide landlord specific information and support to our partner agents. Click here to email Charlotte for more information.

How can I be sure Reposit will be able to pay damages if the tenant defaults?

If there are any damages, we always try to recover the funds from the tenant first using the bank details they used when they paid their Reposit fee.

If the tenant is unable to pay for agreed costs at the end of the tenancy we still endeavor to pay out within 28 days of an accepted claim or dispute decision.

What is a Reposit and how is it different from a standard tenancy deposit?

A Reposit is an alternative to the standard 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 fee, equal to just one week’s rent. The tenant is still liable for any damages, however we stand behind them and cover up to six weeks’ rent worth for damages or rent arrears. If there are any end-of-tenancy payments we pay them and recover the money from the tenant ourselves.

Don’t I have to take a deposit?

No, there is no obligation to take a deposit from your tenants. However, if you do take even £1 from a tenant as security, it must be registered within 30 days with one of the three tenancy deposit schemes according to The Housing Act 2004 legislation. If it isn’t protected within this time you can be fined up to three months’ rent and be unable to serve a Section 21 (eviction notice) to your tenants.

Can I offer Reposit as well as a standard deposit?

Yes, we encourage agents and landlords to Reposit as a choice rather than the only option. In some cases the landlord or tenant may prefer to pay a traditional deposit.

What is covered by a Reposit?

We honour whatever is in your own contact with your tenant up to the value of six weeks’ rent. This includes but is not limited to, any damages to the property or garden, missing items, unpaid rent and cleaning costs.

What’s the process if there are damages at the end of the tenancy?

At the end of the tenancy, after negotiating with the tenant as normal, you log in to your Reposit account, type in the charge and reason and it will be sent directly to the tenant(s). Your tenant can pay directly using any card and we pay it across to your nominated account in one working day.

What happens if the tenant disputes end-of-tenancy charges?

If a tenant disputes the charges, the case is raised to arbitration via a third-party company with over nine years’ experience in dispute resolution working for the deposit schemes.

Evidence is collected from both parties (copies of the check-out report, inventory, photographic evidence etc.) and the arbiter aims to have a decision within seven days. This decision is final and Reposit has no influence over this decision.

If the tenant raises a dispute, they are reminded that an additional £120 charge will be added in the event that the dispute is found wholly in favour of the landlord/agent, this is to discourage unscrupulous claims. No additional charge is levied if the dispute is split between the landlord/agent and tenant. We never charge a landlord or agent for disputes.

How can I be sure Reposit will be able to pay damages if the tenant defaults?

We understand landlords feel secure from having money in a bank account or held by a scheme. However, we offer up to six weeks’ rent for any damages or arrears as outlined in your contract.

If there are any damages, we always try to recover the funds from the tenant first using the bank details they used when they paid their Reposit fee. If the tenant is unable to pay for agreed costs at the end of the tenancy we endeavor to pay out within 28 days of an accepted claim or dispute decision.

Is my tenant still incentivised to look after my property?

Yes, tenants are still liable for any damages and they will still have to pay any costs at the end of the tenancy, exactly like they would with a deposit. We make the tenant fully aware that we are not offering them insurance when they sign our terms and conditions.

Additionally, we offer tenants a reduction in their Reposit fee for looking after the property. As long as the tenant leaves the property with no outstanding charges against them they will pay a lower fee on their next Reposit.

Which tenants are eligible for Reposit?

Tenants who pass referencing checks or who have a referenced guarantor are eligible for Reposit. We offer a full ID check, credit check, and anti-fraud to all our landlords and partner agents through the Reposit platform, increasing the savings when using Reposit.

Reposit is available for tenants receiving DSS or students with no credit score as long as the landlord/letting agent also accepts a guarantor.

What is a Reposit and why is it different to a standard tenancy deposit?

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 fee equal to one week’s rent instead of up to six weeks’ deposit. The fee 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, furnish your new home, or start saving to buy your own home.

When you move again, so long as you haven’t caused any damages, kept up to date with the rent, and cleaned the property professionally, you’ll pay a lower Reposit on your new home! Accidents do happen, so don’t worry if something goes wrong. Even if you have broken something, as long as you pay for any agreed deductions you’ll still be eligible for a lower Reposit on your next tenancy.

Is Reposit tenant insurance?

No. You’re still liable for damages, rent, cleaning the property, and anything else outlined in your tenancy agreement. You will still need to pay your landlord back at the end of the tenancy if you do break anything.

Am I eligible for Reposit?

Tenants who pass referencing checks or who have a referenced guarantor are eligible for Reposit.

If you receive DSS or if you are a student with no credit score you can still use Reposit, as long as you have a guarantor to sign with you on your contract.

How long does a Reposit last for?

Up to 12 months, but it can be extended after this period for an additional £30 every 12 months.

What’s the process if there are damages at the end of the tenancy?

If you damage something/forget to hire a cleaner or miss any rent payments, your agent/landlord may put a charge through our system. In this case, we will notify you via email and text and you have a 7 day period to dispute the charge if you disagree. If you agree, great, you will be able to pay right away. If we don’t hear from you after 7 days, we will charge the card you used to pay for your Reposit (please see our Terms & Conditions). If you are having trouble making the payment, please do get in touch and we can work out a plan.

What happens if I dispute the end-of-tenancy charges?

If you don’t agree with the charges raised, the case is sent to arbitration via a third party company with over nine years’ experience in dispute resolution working for the deposit schemes.

Evidence is collected from both parties (copies of the check-out report, inventory, photographic evidence etc.) and the arbiter aims to have a decision within 7 days. This decision is final and Reposit has no influence over this decision.

However, if you dispute the charges and the case if found wholly in favour of the landlord/agent you will also need to pay an additional £120 charge. This is to discourage anyone from disputing fair claims and wasting the landlord/letting agent/Reposit’s time (we haven’t had to charge anyone this yet). No additional charge is levied if the dispute is split between the landlord/agent and tenant.

How does Reposit work for a joint tenancy or a HMO?

Multiple tenants (up to 20 per property) can be added to a Reposit. They each pay their share of the total weekly rent for the property and remain jointly and severally liable for any deductions at the end of the tenancy.

With a HMO, each tenant simply has their own Reposit for their room at the address and pays their own fee of one week’s rent.

OK, I want to use a Reposit on my new flat, how do I ask my agent?

Check your agent would be happy to speak with us, send them our website and then email us with your agents details to info@getreposit.uk and we'll get in touch with them.

If I stay in the same property for longer than a year, do I have to buy another Reposit?

After your first year, if you renew the contract or choose to stay in the same property on a rolling contract, you will be asked to pay a small top-up fee of £30 per tenant.

Reposit

Sign up and try it today