Goodlord has selected Reposit as its exclusive partner for deposit replacements, supporting the growing trend towards more flexible renting.

Under the new agreement, Reposit will be the exclusive integrated tenancy security solution on the Goodlord platform that provides landlords with up to 60% more cover than a traditional deposit, while giving tenants a more affordable option by paying one week’s rent (as a non-refundable fee) instead of five.

This will be offered alongside the option of a traditional cash deposit option.

Modern approach

The two companies have worked together since 2021 and this extended partnership claims to offer a consistent, modern approach to how tenancies are secured, while maintaining tenant choice in line with regulation.

This partnership will deliver unique value for letting agents, landlords and tenants.”

Oliver Sherlock, MD of Insurance at Goodlord, said: “Reposit and Goodlord are closely aligned in our desire to always improve the renting experience and this partnership will deliver unique value for letting agents, landlords and tenants.

“With hundreds of mutual customers already this partnership feels like a natural evolution especially given how it can mitigate some of the challenges the Renters Rights Act poses for all stakeholders.”

Modern approach

Ben Grech, CEO at Reposit, added: “For decades, the rental market has relied on cash collateral to provide tenancy security. Today, there is a more modern and efficient way.

“This partnership with Goodlord, the market leading pre-tenancy platform in the UK, makes Reposit’s modern tenancy security offering the default approach across the platform for joint partners, while preserving tenant choice.

“It reflects the continued evolution of the rental market, as new approaches aligned to the needs and constraints of the modern rental market become more widely adopted.”