Five new BTR sites to offer residents alternative deposits

Reposit is working with four Build to Rent providers across a total of 52 sites to deliver its cash deposit services to residents.

Mitre Yard Build to Rent scheme, managed by A Way of Living | Reposit | BTR News
Mitre Yard Build to Rent scheme, managed by A Way of Living.

Deposit alternative supplier Reposit has announced that it will offer its product to residents at five new Build to Rent developments as part of an extended strategic collaboration with four separate providers. 

The new sites are Lampton Parkside in Hounslow, operated by Pinnacle Group; Broad Street in Birmingham, operated by Cortland; Mitre Yard in North Kensington, managed by A Way of Living (AWOL); Manchester Waters Tower C and Landmark in Manchester, both operated by X1.

“At Reposit we have witnessed a huge increase in demand for our product from the UK’s thriving Build to Rent sector. This comes as operators increasingly use Reposit to further enhance resident experience, accelerate time to lease-up on new developments and maximise occupancy rates across their portfolios. 

“Our FCA regulated product has become the stand-out choice for operators who seek to achieve these goals whilst retaining a robust stance on compliance. Already being a partner to many of the UK’s leading operators, we are delighted to extend our partnerships with Cortland, Pinnacle, X1 and AWOL and have further exciting announcements coming soon.”

Ben Grech, CEO, Reposit

The collaboration will ensure residents can access an alternative to the traditional five-week cash deposit. Residents who choose Reposit’s FCA-regulated product pay one week’s rent as a non-refundable fee instead of having to find five weeks’ rent at the start of their tenancy.

All residents are eligible to use Reposit provided they pass referencing or provide a UK guarantor. Build to Rent operators will also benefit from increased protection, receiving up to eight weeks’ worth of cover against rent arrears and dilapidations while saving time on their administrative processes.