***** No Deposit Option Available *****
Reposit – Deposit Alternative
We offer Reposit as an alternative to paying a traditional cash deposit.
Reposit allows you to move into a property by paying the equivalent of one week’s rent instead of a standard cash deposit, which is typically five weeks’ rent. This can significantly reduce the amount of money required upfront at the start of a tenancy.
The Reposit payment is a non-refundable fee and is not a deposit. As with a traditional deposit, tenants remain responsible for any valid end-of-tenancy charges. The difference is that with Reposit, you retain control of your money and only pay for charges if and when they arise at the end of the tenancy.
If the tenancy continues beyond 12 months, an annual compulsory continuation fee of £30 is payable to Reposit to maintain the cover.
If there is a disagreement over end-of-tenancy charges and you choose to raise a dispute and go independent arbitration, a £60 dispute fee is payable. This fee is only charged if a dispute is raised and is shared between all tenants named on the tenancy.
If valid end-of-tenancy charges are not paid, Reposit may take steps to recover the outstanding amounts, which may include legal action. This could impact your credit score.
Reposit is optional, and a traditional deposit scheme is also available. Reposit is subject to eligibility and referencing criteria and may not be offered following referencing.
For more information on Reposit, please speak to a member of our team.
Cost Information
If you wish to move forward, following a viewing, a holding deposit will be required at referencing stage. This will be taken via our referencing platform and will be deducted from your first month’s rent when the tenancy starts.
The holding deposit will be retained and forfeited if the tenancy does not proceed for one of the following reasons:
· You decide not to proceed with the tenancy
· You provide false or misleading information
· You fail a Right to Rent checks