Assisting Reposit to transform tenancy deposits for good

Assisting Reposit to transform tenancy deposits for good

Reposit is on a mission to make renting more affordable and accessible for the 4.5 million UK households who rent their homes. Originally founded by Jude Greer and Brendan Short in May 2015, the London-based start-up offers tenants, landlords and agents a new way of renting by providing an alternative to the hassle of security deposits.  

The novel concept is one that works across the rental landscape, which is why Reposit is growing fast across the UK. Under a Reposit agreement, tenants pay a non-refundable fee of a week’s rent instead of the usual five weeks’ deposit. Reposit cover the landlord or letting agent for eight weeks’ rent in return for that fee. Tenants are still liable for any damage caused during the tenancy but make serious savings on upfront moving costs. Landlords are guaranteed payment should anything go wrong during a tenancy and can avoid the bureaucracy of the Tenancy Deposit Scheme.

Ben Grech recently joined Reposit in April as CEO, and with him, brings a raft of experience as well as fresh financing to boost the company’s plans for growth. Ben founded student accommodation marketplace Uniplaces in 2012 and spearheaded its international growth, raising $30m and earning himself a coveted Forbes 30 under 30 accolade.

Harper James has been Reposit’s trusted legal adviser since 2017 and we have supported them through our Enterprise Plan across a number of commercial, employment, and corporate law matters. As a start-up law firm ourselves, we know the issues involved with scaling up. Our lawyers skilfully guided Reposit through key milestones in their journey so far, from advising on employment contracts and an EMI scheme, to important commercial agreements and corporate updates including updating terms and conditions, director changes and a name change. We also provided advice on their application for FCA authorisation.

As a high-growth start-up, Reposit has successfully completed investment rounds, and our corporate team have worked in close partnership with the founders to get critical deals over the line.

Ben Grech, Reposit’s CEO, said: ‘Working with Harper James means we have access to the breadth of legal expertise we need as Reposit scales. Benefitting from partner-level lawyers at such competitive rates makes all the difference to our trajectory as a start-up. And at Reposit, we intend to go all the way!’

Jas Bhogal, corporate solicitor, commented: ‘Reposit are a fantastic client to work with. They’re a perfect example of how great ideas realised well can change the world. Having supported the team on two funding rounds so far, I have no doubt that Reposit are going places and will be a leading player in the UK rental space for years to come.’

Looking ahead, Reposit have grand plans for growth and under Ben Grech’s stewardship, they mean business for the UK rental market and beyond. The company has recently signed a deal with award-winning lettings platform Goodlord, are growing their network of partners and diversifying their product portfolio.

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