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Reposit Deposit Replacement: More Flexibility, Greater Protection

Thu 22 May 2025

Amy McCallum, Lettings Director

Deposit-Free Renting with Reposit

At Allday & Miller, we offer Reposit as a modern alternative to traditional deposits. This service provides tenants with a more affordable move-in option and gives landlords stronger financial protection at no additional cost.

How Reposit Works

  1. Tenants choose Reposit instead of paying a cash deposit

  2. They pay a one-off, non-refundable fee equal to one week’s rent (minimum £150)

  3. The landlord is then covered by Reposit for up to 8 weeks’ worth of rent

  4. At tenancy end, any valid claims for damage or rent arrears are submitted and resolved within an average of 14 to 20 days

Reposit is regulated by the Financial Conduct Authority and backed by an authorised UK insurer. Landlords are the direct beneficiary of the insurance.

Benefits for Landlords

  • 8 weeks’ protection compared to the standard 5 weeks under deposit schemes

  • Zero cost to landlords

  • Faster end-of-tenancy settlements than government deposit schemes

  • Properties with deposit-free options attract more interest and let more quickly

  • Full insurance cover, plus FSCS protection up to £85,000

Benefits for Tenants

  • No large deposit to find upfront

  • Lower initial costs help tenants move faster

  • Tenants remain liable for rent arrears and damages as with a traditional deposit

  • On average, only half of tenancies end with any charges, including cleaning

Tenants must pass referencing with earnings at least 30 times the monthly rent. If not, a guarantor or 6 months’ rent in advance is required.

End-of-Tenancy Process

  • The agent submits evidence of charges on the Reposit platform

  • The tenant can pay, dispute, or propose a settlement

  • If disputed, an independent adjudicator provides a decision within 14 days

  • If the tenant defaults, Reposit’s insurer pays the landlord and recovers the amount from the tenant

Included with Our Service

When tenants opt for Reposit as part of our Rent Collection or Full Management service:

  • There is no need for a traditional cash deposit

  • Prescribed deposit information is not required

  • Both parties agree to Reposit’s terms and conditions

  • An annual handling fee of £60 including VAT applies

Deposit-Free Renting with Reposit

Summary

Reposit provides greater flexibility for tenants and superior protection for landlords. It is a fully insured, legally regulated deposit replacement that simplifies the move-in process and reduces void periods. To find out more or to enable Reposit for your rental property, speak to the Allday & Miller lettings team today.