We don't blame you if you're still unsure about what Reposit or any other deposit alternative product does. The truth is, unless you work in the industry, it is probably a foreign concept to you...but we can assure you that it is not your fault.
A deposit alternative - our favourite is Reposit 🤗 - is a product that provides an alternative to the traditional cash deposit when renting a property. So, instead of paying an expensive deposit, you can secure your favourite flat by paying a non-refundable service charge to Reposit.
Is Reposit tenant insurance? (HINT: No)
Reposit is not tenant insurance but a deposit alternative product. This is key as it means that, if you’ve not paid rent or caused damage to the property, you need to reimburse your landlord at the end of tenancy.
Do I have a choice between a Reposit and a traditional cash deposit?
Absolutely! Reposit should always be offered to you as a choice and our partner agents will discuss the right option with you.
Not sure if your agent offers Reposit? Give us a call and we'll go directly to your agent to help them set you up!
Why is the fee non-refundable?
As Reposit isn't a deposit, there is no "refundable deposit" that is given back to you at the end of tenancy. We provide an alternative process where you pay a small service charge (equal to 1 week's rent) instead of paying an expensive 5 weeks' deposit.
What if my landlord wants to raise a claim?
At the end of your tenancy, your landlord can create a claim through Reposit. It's your right to either agree or dispute the claim. This is a simple process that can be done through our online platform.
Did you spill wine on the carpet and now there's a huge stain? Find out what to do here.
We started Reposit because we believe there is a better and more affordable way of renting. With us you can..
- Save on upfront costs and move in faster
- Use your money on what you want rather than wait months or years to get your deposit money back
- Not worry about scraping up enough money for a second deposit when moving houses
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