Deposit alternatives gathering pace among agencies

Reposit has signed strategic partnerships with multiple estate agencies across the UK.

Related topics:  Finance,  Landlords,  tenants,  Deposit
Property | Reporter
26th January 2024
To Let 722
"These partnerships reflect a shared vision for efficiency and customer-centric solutions while offering a practical solution for agencies navigating the ever-changing rental landscape"
- Ben Grech - Reposit

FCA-regulated deposit alternative, Reposit has announced that it has formed partnerships with more UK letting agencies following a rise in demand for rental properties.

Symonds & Sampson LLP, Bradley Hall, and Webbers are now offering their landlords and tenants alternatives to the traditional cash deposit.

The agency partnerships follow the ongoing demand for rental properties in the UK which in December 2023 was 32% above the five-year average.

The new partnerships also coincide with a 69% increase in sales experienced by Reposit during December compared to the same period in 2022. This surge in demand highlights the growing recognition among agencies of the product as a valuable alternative to the conventional cash deposit.

Symonds & Sampson, which was established in 1858, is breaking new ground by offering an alternative to cash deposits for the first time in its 166-year history, reflecting the need to keep up with changing market dynamics.

Rachael James, Head of Lettings at Symonds & Sampson said: "We are excited to partner with Reposit to enhance the rental experience for both landlords and tenants. Reposit's deposit alternative fits with our goal to provide efficient, customer-focused solutions."

Ben Grech, CEO, Reposit added: “We’re thrilled to see our product continuing to resonate with tenants and agents across the rental market. These partnerships reflect a shared vision for efficiency and customer-centric solutions while offering a practical solution for agencies navigating the ever-changing rental landscape.”

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