Reposit is not a deposit. Tenants referred through Reposit pay a service charge equal to one weeks worth of rent to allow them not to pay a deposit and for you, the Landlord to be added to the Reposit Insurance Policy.
Reposit covers the Landlord for up to eight week’s of damages or rent arrears if a tenant defaults on fair payment. Your Tenants are still liable for any damages or breaches of the tenancy agreement and pays for these at the end of the tenancy, just like with a deposit.
Reposit helps your property stand out in a crowded market and lets Tenants move in faster, rather than waiting to have a large lump sum available. This means your property won’t stay empty for long!