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Your Deposit Options

Your Deposit Options

At Habodel, we want moving into your new home to feel as simple and supported as possible.

That’s why we offer two deposit options, so you can choose the one that best suits your situation.

Both options are designed to protect your tenancy, while giving you flexibility when you move in.

Option 1 - My Deposits: Pay a Standard Deposit

This is the traditional deposit option that most people are familiar with.

How it works:

  • You pay a cash deposit before moving in of 4 weeks rent
  • Your deposit is protected in a government-authorised tenancy deposit scheme
  • It is held securely for the duration of your tenancy

At the end of your tenancy:

  • Your deposit is returned to you, provided the property is left in an agreed condition
  • Any deductions (if needed) are clearly explained and supported with evidence

This option may be right for you if:

  • You prefer a traditional, refundable deposit
  • You are comfortable paying a higher upfront amount at the start of your tenancy
  • You prefer a standard deposit return process at the end of your tenancy

If you require more detailed information on this scheme, please visit: https://www.mydeposits.co.uk/

Option 2 - Reposit: Pay Less Upfront

Reposit is designed to reduce the amount you need to pay before moving in.

How it works:

  • Instead of paying a full cash deposit, you pay a smaller non-refundable fee
  • This is typically equivalent to around one week’s rent (minimum £150)
  • This fee allows you to move in without tying up a large amount of money upfront

At the end of your tenancy:

  • You do not receive a deposit refund
  • You only pay if there are end of tenancy costs which will be handled directly by Reposit. These may include:
    • Cleaning
    • Damage beyond fair wear and tear
    • Unpaid rent or charges

If there are no charges, there is nothing further to pay.

This option may suit you if:

  • You want to reduce upfront moving costs
  • You prefer not to have a large deposit tied up during your tenancy
  • You want a more flexible alternative to traditional deposits

Please note: You remain liable for all valid and properly evidenced charges at the end of your tenancy.

If your tenancy lasts longer than 12 months, Reposit charges an annual fee of £30, split equally between all named tenants.

Further information, full terms and conditions, and FAQs can be found on the Reposit website: https://www.reposit.co.uk/

Which option is right for me?

Choosing the right option comes down to what works best for you and your circumstances.

Here’s a simple guide:

Choose MyDeposits if you prefer a traditional refundable deposit

Choose Reposit if you want lower upfront moving costs

Both options are valid and fully supported within your tenancy.

Need help deciding?

If you are still unsure which option is right for you, our Habodel team is here to help.

We can talk you through both options before you move in so you can make a confident choice.

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