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Venture Properties Blog

April 21st, 2021

Section: Bishop Auckland Office
Chester-Le-Street
Crook Office
Darlington Office
Durham Office
Lettings
Sales

Reposit – more protection, less hassle

We are thrilled to announce that we are now working with Reposit, a company that offers an alternative to the traditional tenancy deposit, and it’s proving very popular with our landlords and tenants.

The scheme, which provides landlords with more protection against rent arrears and damages, also allows tenants to save a substantial amount on their moving costs, but what are the other key benefits of Reposit?

The advantages of landlords opting to use Reposit:

  • It supplies eight weeks’ worth of cover, 60% more than a traditional deposit which is legally capped at five weeks
  • With fewer up-front costs, this is more appealing to tenants and can result in increased interest in properties
  • Faster dispute resolution is available, offering an adjudication verdict within 14 days

The advantages of tenants opting to use Reposit:

  • It significantly reduces move-in costs, meaning tenants can use their hard-earned money on other things like furniture, décor or a staycation
  • There’s no lengthy wait to get your deposit back at the end of the tenancy
  • If there is a dispute between the landlord and the tenant, they will receive a decision within 14 days

Reposit Window Card

We have already received fantastic feedback from both tenants and landlords who have used the scheme.

Mrs C, who is one of our valued landlords, said: “I opted for Reposit as it was a no-brainer for me. I got more cover against potential future rent arrears and damages, and my new tenant reduced their move-in costs. It was a win-win for both of us.”

Mr R, a tenant who starting using Reposit recently, said: “This is the first time I’ve used Reposit, but it was straightforward and easy to use. Once my online application had been accepted, I was sent a link from Reposit to pay the amount directly to them and they then notified Venture. The amount I’ve saved on upfront costs helped me to pay for a removal van on the move-in day itself.”

For more information on our work with Reposit or to find out how the scheme can benefit you, get in touch with our team or Tweet us at @ventureprop.