Goodlord has selected Reposit as its exclusive deposit replacement partner as the two firms expand their existing relationship amid growing demand for more flexible tenancy solutions.
The companies have worked together since 2021 but the new agreement will see Reposit become the exclusive integrated deposit replacement solution available through the Goodlord platform.
Reposit’s product allows tenants to secure a tenancy by paying the equivalent of one week’s rent as a non-refundable fee instead of providing a traditional five-week cash deposit.
The product will continue to sit alongside the option of a traditional cash deposit, maintaining tenant choice while offering landlords additional protection.
COMPLIANCE CHANGES
According to the firms, Reposit provides landlords with up to 60% more cover than a traditional deposit arrangement.
The partnership comes as the rental sector continues adapting to the operational and compliance changes introduced under the Renters’ Rights Act.
Oliver Sherlock, Managing Director of Insurance at Goodlord, says: “Reposit and Goodlord are closely aligned in our desire to always improve the renting experience and this partnership will deliver unique value for letting agents, landlords and tenants.
“With hundreds of mutual customers already this partnership feels like a natural evolution especially given how it can mitigate some of the challenges the Renters Rights Act poses for all stakeholders.
“Reposit’s FCA-regulated product provides a smarter way to secure a tenancy. It enables tenants to move without locking up large sums of cash, while giving landlords robust protection – up to 60% more than a traditional deposit.
“By partnering with Reposit, we’re giving agents, tenants and landlords a clear, high-quality approach to tenancy security across our platform.”
MARKET EVOLUTION
Ben Grech, CEO at Reposit, adds: “For decades, the rental market has relied on cash collateral to provide tenancy security. Today, there is a more modern and efficient way.
“This partnership with Goodlord, the market leading pre-tenancy platform in the UK, makes Reposit’s modern tenancy security offering the default approach across the platform for joint partners, while preserving tenant choice.
“It reflects the continued evolution of the rental market, as new approaches aligned to the needs and constraints of the modern rental market become more widely adopted.”
