The differences in outgoing costs between traditional deposits and zero-deposit schemes are actually very little! For Reposit you pay one week’s rent to Reposit who act to insure your deposit. This is non-refundable. You then pay the first months’ rent within 15 days as security for the landlord leading up to the tenancy. This is the case with all zero-deposit schemes. For a traditional deposit, you would pay a holding deposit. You then pay 5 weeks’ rent within 15 days for the rest of the deposit, minus the holding deposit you’d already paid. The first month’s rent would then be paid 7 days before the beginning of the tenancy. After this, the differences are minimal until the end of the tenancy. With a traditional deposit, we will send you a breakdown of any deductions within a month of your tenancy end date and then once agreed, will return the balance of the funds to you. With Reposit, we will submit any end of tenancy charges onto their platform with 24 days of the end of your tenancy, you will be notified of these by Reposit and once agreed, you will pay this money to Reposit.
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