Utilities and comparative platform Tenant Shop has linked up with Reposit to offer a security deposit alternative product for agents.

Tenant Shop’s PropTech platform SULU offers a range of services to agents, landlords and tenants already and from next month this will include Reposit: letting agents and their clients will be able to use Reposit via direct introduction from Tenant Shop or coupled with referencing via a referencing partner.

With Reposit tenants pay the equivalent of one week’s rent as a service fee, which addsthe landlord to a group insurance policy. 

Tenant Shop says this policy covers a landlord for everything that the traditional lump sum would have covered.

“This is a key addition for us as more and more tenants look for a new way to rent property without the hassle of a deposit. We are delighted to offer it to landlords and tenants through our existing and new letting agent partners” explains Glenn Seddington, Tenant Shop’s managing director.

And Jude Greer, Reposit’s chief executive, adds: “We try and make sure that we partner with companies that have a shared vision as well as product standards that match our own … Our mission is to make renting more affordable and accessible to tenants, and this partnership takes us one step closer to that goal.”