Leading build-to-rent (BTR) and single-family housing (SFH) operator Allsop has announced a collaboration with Reposit, a prominent deposit alternative provider. This partnership aims to provide renters with an affordable alternative to traditional cash deposits, easing the financial strain of moving into rental properties.
Reposit’s solution for renters and landlords
Reposit’s Financial Conduct Authority (FCA)-authorised product allows tenants to pay a non-refundable fee equivalent to one week’s rent, in place of a standard deposit. For Allsop’s clients, the benefits include up to eight weeks of protection against rent arrears and property damage. This extended cover offers landlords and operators more security compared to the typical five-week deposit, while helping tenants save significantly on upfront costs.
By opting for Reposit, renters at several Allsop-managed sites can save an average of £1,293 upfront, freeing up funds for other expenses at a time when the cost of living is rising.
Growing need for deposit alternatives
This partnership comes as new research commissioned by Reposit highlights the increasing financial burden faced by renters. A poll of 1,000 current renters revealed that 38% have had to borrow money—whether from friends, family, credit cards, personal loans, or overdrafts—to cover the costs of moving, a figure that has risen by 8% in just one year.
Nicola McKernan, Head of Operations at Allsop, explained, “We are always focusing on new ways to ensure residents have access to a choice when renting a property with us. The research tells us that paying a cash deposit can sometimes be difficult for residents, and we know that offering an alternative can be critical in the decision-making process.”
McKernan emphasised that the decision to partner with Reposit was based on their FCA-regulated status and their ability to offer a secure solution for both residents and clients. “We’ve seen Reposit gaining ground across the industry and have been impressed with their offering,” she said, highlighting the product’s appeal amid the rising cost of living.
Supporting both residents and BTR operators
Reposit’s flexible approach not only benefits renters but also helps streamline the end-of-tenancy process for property operators. Gurman Bains, Sales Team Lead at Reposit, noted, “Our latest collaboration with Allsop is a demonstration of our commitment to provide residents with an affordable and flexible alternative to traditional cash deposits, while helping to streamline operators’ end-of-tenancy processes.”
As Reposit continues to grow in popularity, more build-to-rent operators are recognising its value. “We’re finding more and more build-to-rent operators see Reposit as a valuable solution for the industry, working efficiently and fairly for each stakeholder in the rental process—operators, managing agents, and residents alike,” Bains added.
Easing the rental burden
As the cost of living continues to rise, solutions like Reposit offer much-needed financial relief for renters while providing enhanced protection for landlords. This collaboration between Allsop and Reposit reflects a broader trend towards deposit alternatives in the UK rental market, aimed at creating a fairer and more accessible system for all involved.
