East Dulwich

165 Lordship Lane, East Dulwich, London, SE22 8HX

Forest Hill

5 London Road, Forest Hill, London, SE23 3TW

Maidstone

Flaxfield House, 91 The Street, Maidstone, Kent,
ME18 5LU

Request a free valuation (Sales)

Once you've requested a valuation we will visit your property and offering a free, no obligation valuation and advice, based on our extensive experience of selling homes in your local area.

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Request a free valuation (Lettings)

Once you've requested a valuation we will visit your property and offering a free, no obligation valuation and advice, based on our extensive experience of selling homes in your local area.

your personal details

your property requirements

Register with Daisy Lets & Sales

Please enter your details and parameters of the type of property you are looking for below and one of our dedicated team will be in touch to discuss how we can help you find your dream home.

your personal details

your criteria

Register with Daisy Lets & Sales

Please enter your details and parameters of the type of property you are looking for below and one of our dedicated team will be in touch to discuss how we can help you find your dream home.

your personal details

your criteria

August 14, 2017 Landlords

REPOSIT – Deposit free renting

Achieve lower void periods and happier tenants

What is a Reposit

RepositlogoA Reposit is a new choice for a tenant instead of paying a six week deposit against damages, rent arrears and cleaning costs.

Instead the tenant pays Reposit a fee, equal to one weeks rent. They then recover any charges from the tenant at the end and pass them on to you.

The tenant remains wholly liable ensuring a duty of care and responsibility to the property but they free up £635 on average to go on holiday, pay off that credit card or hit the beach. Everyone wins!

Don’t I have to take a deposit?

No! You don’t even have to take rent if you don’t want to (not investment advice!).

If you do take even £1 from a tenant as security, it must be registered within 30 days with one of the three tenancy deposit schemes as per The Housing Act 2004legislation. If it isn’t protected you can be fined up to three months rent and be unable to serve a Section 21 (eviction notice) to your tenants.

What is covered by a Reposit

At the end of a tenancy, Reposit will faciliate collection from the tenant for everything covered by a standard tenancy deposit. This includes but is not limited to, any damages to the property or garden, missing items, unpaid rent and cleaning costs.

What type of tenants are eligible for Reposit

Tenants who pass a credit check, reference check and are in employment. Reposit is currently not being offered to tenants receiving DSS. Students without a credit history, we will accept them onto a Reposit, provided we have taken a guarantor in case of non-payment of rent.

Does Reposit ever charge me as a Landlord

Never

What happens if I have to levey a charge on the tenant?

Simple. At check-out after negotiating with the tenant as normal, you (or we if we are managing) log in to your Reposit account, type in the charge and reason and it will be sent directly to the tenant(s).

They can pay directly using any card and Reposit pay it across to your nominated account in one working day.

What happens if a tenant disputes this charge?

If a tenant disputes the charge, the case is raised to arbitration via a third party company with over nine years experience in dispute resolution working for the deposit schemes.

Evidence is collected from both parties (copies of the check-out report, inventory, photographic evidence etc.) and Reposit aim to have a decision within 7 days. This decision is considered final. Reposit has no influence over this decision.

If the tenant(s) raises a dispute, they are reminded that an additional £120 charge will be added in the event that the dispute is found wholly in favour of the landlord/agent. This is to discourage unscrupulous claims.

No additional charge is levied if the dispute is split between the landlord/agent and tenant(s) Reposit never charge a landlord or agent.

Is Reposit a bad credit product?

Not at all! Reposit allows tenants to free up a lot of their own cash whilst still remaining liable for damages or other deductions. All of the benefits of a normal deposit but without the big cash outlay!

How long does Reposit last for?

12 months, but it can be extended after this period.

Does Reposit work for an HMO?

Yes, each tenant simply has their own Reposit for their Room at the address and pays their own fee of one weeks rent.

Is Reposit another deposit company?

No they are an alternative and better way of securing your property that isn’t a tenancy deposit.

Is Reposit Secure?

Completely, they deal directly with the tenant and have comprehensive system for collecting any agreed damages or charges from them before paying across to you/us.

If you would like to know more, visit Reposit or download this leaflet and just let us know if you are hapy to accept a Reposit*
*Tenants have the choice to pay a traditional security deposit or use Reposit if their landlord agrees.

Reposit

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