Company: Reposit
Founder(s): Ben Grech (CEO)
Website: https://reposit.co.uk/
Description: Reposit aim to offer an improved renting solution to benefit letting agents, landlords and tenants.
Reposit offers a revolution to the rental ecosystem. With Reposit landlords are able to secure up to 60% more cover, agents can get their properties to let significantly faster all the while saving tenants up to hundreds of pounds upfront. Visiting the website, a handy calculator is showing you how much a tenant is likely to save from using Reposit.
The CEO of Reposit Ben Grech has said “We offer the most cover for landlords, the most competitive price for tenants and the highest commissions for agents”. Reposit is shaping up to be a more streamlined solution that lets everybody win.
Over the course of the Startups’ life, they have stopped thousands of tenants from having to deal with the fact that their cash is locked away in depositions. This has saved people millions, all the while commissions to agents are still being paid with up to £15k per year being paid out.
According to the CEO around 30 percent of tenants are choosing to go with Reposit over traditional deposit methods. This can rise even higher, because research from the company has shown that 43% of tenants look to borrow money to be able to afford a deposit.
The flexibility offered by Reposit means that it is definitely on an upwards trajectory as they add partnerships and keep building functionality into their services. In their latest milestone, Reposit has teamed up with Vouch to make it possible for letting agents administer a tenant’s deposit and referencing through a well-designed and highly functional smartphone app.
