What are the differences in cost between a traditional deposit and zero-deposit?
The differences in outgoing costs between traditional deposits and zero-deposit schemes are actually very little! For Reposit you pay one week’s rent to Reposit who act to insure your deposit. This is non-refundable. You then pay the first months’ rent within 15 days as security for the landlord leading up to the tenancy. This is the case with all zero-deposit schemes. For a traditional deposit, you would pay £100 as a holding deposit. You then pay 5 weeks’ rent within 15 days for the rest of the deposit, minus the £100 you’d already paid. The first month’s rent would then be paid 7 days before the beginning of the tenancy. After this, the differences are minimal.
