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sijfish

0 deposit tenancies with reposit.co.uk

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Anyone heard of this? I spotted it on a listing recently.

From what I can gather it seems like an insurance based alternative to taking a 6 week deposit, where the tenant pays a non-refundable 1 week rent (insurance premium), in return for not having to put down a refundable (at risk) 6 week deposit. Meanwhile the landlord gets free rental/damage insurance cover for up to 8 weeks rent (where they previously only had 6 weeks and had to deal with deposit protection and arbitration etc.), and the agent takes a commission. In the event of a claim the company takes the role of final arbiter between tenant and landlord at no expense to the landlord.

Sounds rational, assuming the economics of the business model are sustainable and you trust the claim/arbitration process. I’ve not gotten as far as reading the T’s and C’s. Anyone else come across this?

https://reposit.co.uk/letting-agents/

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£0 deposit options started popping up last year. The Property Tribes forum has quite a few threads about the pros/cons of it, including this one which has a video of it. Hopefully it provides a bit more info for you.


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