Property technology firm Goodlord has announced Reposit as its sole partner for deposit replacement products, as the rental sector continues to adopt alternatives to traditional cash deposits.
Under the agreement, Reposit will be the only integrated tenancy security solution on the Goodlord platform. The product provides landlords with up to 60% more cover than a traditional five-week deposit, while tenants pay one week’s rent as a non-refundable fee instead of the standard five weeks upfront.
Traditional cash deposits will remain available alongside the deposit replacement option. The arrangement builds on an existing relationship between the two companies dating back to 2021.
Regulatory context
The partnership comes as the rental sector adjusts to regulatory changes, with both companies citing the upcoming Renters Rights Act as a factor influencing the arrangement. The legislation is expected to bring further changes to how tenancies are managed across England.
Oliver Sherlock, managing director of insurance at Goodlord, said the partnership could “mitigate some of the challenges the Renters Rights Act poses for all stakeholders.” He noted that hundreds of mutual customers already exist between the two platforms.
The rental market has seen increased activity following recent legislative changes, with agents adapting their processes to meet new requirements.
Market shift
Ben Grech, chief executive at Reposit, stated that deposit replacement products represent “a more modern and efficient way” compared to cash collateral, which has been the standard security method for decades.
The arrangement makes Reposit’s product the default option across the Goodlord platform for joint partners, though tenant choice between deposit types will be maintained in line with regulatory requirements.
The move reflects broader trends in the rental sector, where technology platforms are increasingly integrating financial products to streamline tenancy processes. Goodlord describes itself as the leading pre-tenancy platform in the UK market.
Deposit replacement schemes have gained traction in recent years as an alternative to traditional deposits, which can present affordability barriers for tenants while tying up capital. The products typically involve insurance-backed guarantees rather than cash held in protected schemes.
