As a landlord, your investment properties represent a significant financial commitment and a source of steady income. Evolve Lettings are always seeking innovative solutions to enhance your property management experience and bolster your rental investment and one such solution is our partnership with Reposit.
Reposit is a groundbreaking platform that revolutionises the way rental deposits are handled. By collaborating with Reposit, Evolve Lettings can offer tenants an alternative to the traditional deposit model. Tenants pay a non-refundable fee of one week's rent whilst a landlord is covered for 8 weeks' worth of protection, easing any concerns about potential damage or unpaid rent.
Key Benefits for Landlords:
1. Increased Tenant Appeal: In a competitive rental market, properties that offer more tenant-friendly terms are more likely to attract a larger pool of qualified renters. By offering the option of Reposit, you make your property more appealing to potential tenants. It's worth noting that tenants still have to pass all the relevant referencing checks, so you can be sure of onboarding good quality occupants.
2. Streamlined Tenant Onboarding: Traditional deposits can be a financial hurdle for tenants, causing delays in securing a property. With Reposit, tenants can secure a property more swiftly, expediting the move-in process and minimising potential revenue gaps.
3. Mitigated Risk: Reposit provides comprehensive coverage for potential damages or unpaid rent, protecting your investment. With Reposit, landlords are protected for 8 weeks' worth of rent. 60% more than a cash deposit and the most cover offered by any deposit alternative on the market. This added layer of security allows you to rest easy, knowing that your property is safeguarded.
Gurman Bains from Reposit said: "Landlords love Reposit for lots of different reasons. Obviously, the increased cover compared to cash deposits is great, it's a much better process for tenants which makes it much smoother getting them into properties and reducing void periods.
It's not just about getting tenants into properties either, it's a much better process at the end of the tenancy. If there are any charges, submitting them is easy and even if there's a dispute Reposit will payout, on average, in less than 20 days, which is significantly shorter than some cash deposit schemes.
We're pleased to partner with Evolve Lettings as they demonstrate their commitment to providing an exceptional experience for their landlords and tenants by offering our deposit alternative product."
