Join an army of happier landlords getting 8 weeks’ worth of cover on their rental properties.
60% more cover than a cash deposit
Cash deposits are capped at 5 weeks’ rent. Reposit gives you 8 weeks’ worth of cover, 60% more protection.
Rent faster, reduce voids
Void periods cost UK landlords over £3bn a year. Properties advertised with a ‘deposit free option’ will typically let quicker.
FCA Authorised and FSCS protected
Reposit is FCA authorised and FSCS protected. Our product is underwritten by a leading insurer. That’s why we are trusted by the best in the business.
How does Reposit work?
Reposit is offered through our network of lettings agents, property managers and build-to-rent partners. If your property is managed by a Reposit partner, they will handle Reposit on your behalf. If your agent does not yet use Reposit, get in touch to refer them to us.
The Landlord Perspectives Survey Report
We asked our partner agents about the questions that mattered and surveyed over 600 UK landlords to get their perspective on agency service, fees and legislation.
Landlords love Reposit
“Reposit has provided my tenants with a more affordable option than cash deposit schemes and at no cost to me, the landlord.”Alex MyersPrivate Landlord
“Our landlords find Reposit quick, easy and simple. It offers them more cover which makes them feel more secure when letting out their property and relieves the worry of “what ifs”.”Joe FirthWhitegates Keighley
Frequently asked questions.
Cash deposits have been impacted by increasing regulation
The Tenant Fees Act limited cash deposits to 5 weeks’ worth of rent. What’s more landlords risk paying up to three times the deposit amount to the tenant as compensation if they are not registered properly. Finally, in case there is a dispute at the end of tenancy these can take months to resolve with the government schemes. Reposit settles all disputes within 14 days.
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.
To use Reposit, tenants must pass referencing which includes an affordability check. Their annual earnings must be at least 30x the monthly rent. If this check is failed, a guarantor is required, or the tenant must pay 6 months’ rent up front.
Just like a normal deposit, tenants remain fully liable for all dilapidations and rent arrears at the end of tenancy. Reposit will continue to pursue the tenant for any valid end of tenancy charges, even if you have already been repaid by Reposit.
On average only 30% of Reposit tenancies end with any sort of charges, including cleaning. This is similar to the national average for all tenancies.
In the majority of cases, Reposit successfully recovers money owed from tenants. In case the tenant does default, Reposit works in partnership with a top 5 Lloyd’s of London underwriter who write over $1bn in premium each year. Our insurance structure means that landlords are guaranteed payment in the event of a tenant defaulting on any charges normally covered by a cash deposit.
As an FCA regulated company, Reposit follows strict guidelines as set out by the FCA which intends to bring agents, landlords and tenants comfort that they are affiliated with a responsible firm that has continuous oversight from an independent regulatory body.
Reposit also benefits from FSCS protection. This scheme protects consumers for up to £85,000 in losses if a firm is unable to pay for their liabilities. In the context of Reposit, in the highly unlikely event our insurer becomes unable to pay the landlord, then the FSCS will wind down and honour any existing cover.