Boydens, the family-owned agency which operates in North Essex and South Suffolk, has become the latest agency to sign up to Reposit, the deposit alternative provider.

Reposit’s deposit alternative enables tenants to pay a one-week non-refundable fee instead of the traditional five weeks’ rent. The insurance product provides landlords with up to eight weeks’ worth of cover against rent arrears and dilapidations.

Paul Buck, of Boydens, said: “It’s never been more important for tenants to have a choice when it comes to their cash deposit. In addition, as affordability is stretched, landlords need to know they have adequate protection in the event of arrears.

“Boydens is committed to adapting to changing market dynamics and enhancing the overall rental experience for both landlords and tenants. This collaboration with Reposit reflects our commitment to offering efficient, customer-focused solutions in the evolving real estate landscape. Reposit’s FCA Authorisation is important to us, we’ve used other products in the past but we find Reposit to be the most secure solution.”

Gurman Bains, sales team lead at Reposit, commented: “Our partnership with Boydens reflects our commitment to reshaping the rental landscape. Together, we aim to provide landlords and tenants with a secure, flexible, and affordable alternative to traditional cash deposits, ensuring peace of mind and financial protection.”