Deposit Replacement

The alternative to cash security deposits.

Join an army of happier landlords getting 8 weeks’ worth of cover on their rental properties

“Reposit has provided my tenants with a more affordable option than cash deposit schemes and at no cost to me, the landlord.”
Alex Myers, private landlord

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.

Increased demand, fewer voids

Void periods cost UK landlords over £3bn per year, with individual landlords losing an average of £1,869 per year. Properties advertised with a ‘deposit free option’ have been shown to attract 26% more click-throughs online, and will typically let quicker.

Faster dispute resolution

If end of tenancy charges are disputed, Reposit will obtain an adjudication verdict within 14 days, much faster than the traditional cash deposit schemes, which can take 6 weeks or more.

A solution you can trust

Reposit is FCA authorised and FSCS protected. We are the longest standing deposit alternative, trusted by partners across the country, including industry leading brands.

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.

Fortunately, with developments in technology and the increased use of online and mobile services, there’s a better option. Reposit offers a simple, online process which can be completed by the agent and tenant in a matter of minutes. As a landlord you will be covered for 8 weeks’ worth of rent, benefiting from 60% more protection than a cash deposit.

Want to find out more?

Visit our website to see our FAQs for landlords

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Other important information

With Reposit, it is the landlord who is protected by our insurance policy, not the tenant. The tenant cannot cancel the policy or make any other changes such as ending or extending the cover. Only the agent or landlord are able to do this.

Tenants must pass referencing to be eligible for Reposit. It is the agent’s responsibility to ensure this is done according to Reposits standard referencing criteria. Not doing so will invalidate the cover.

Landlords will always receive payment for amounts outstanding at the end of tenancy provided that:

  • The tenant has been properly referenced.
  • The landlord is entitled to payment according to the terms of the AST.
  • Any necessary evidence has been submitted to support the amounts owed, as per our terms and conditions.The Reposit fee paid by tenants is non-refundable and cannot be offset against costs at the end of tenancy.

Just like with a normal deposit, the tenant remains liable for any amounts due at the end of tenancy (e.g. cleaning fees, costs for repairs, outstanding rent).

If the tenant does not pay at the end of the tenancy, Reposit will pursue necessary legal action to recover the outstanding amount, even if the landlord has already been paid.

The tenant always has the choice to use Reposit or a normal cash deposit.