The new partnership will see the deposit alternative provide its services to landlords in Essex and Suffolk, following growing demand for more affordable housing options.

Reposit has announced a new strategic collaboration with Boydens. The partnership is geared towards providing landlords in North Essex and South Suffolk with FCA and FSCS-protected cover through Reposit's innovative deposit alternative.

According to Rightmove, tenant affordability is a key concern, with 23% of rental properties experiencing a reduction in advertised rent, compared to 16% at the same time last year.

Reposit's FCA-authorised deposit alternative enables tenants to pay a one-week non-refundable fee instead of the traditional five weeks' rent. Meanwhile, landlords benefit from increased protection, receiving up to eight weeks' worth of cover against rent arrears and dilapidations.

Paul Buck, Director of Sales & Lettings at Boydens emphasised the importance of providing tenants with choices amid rising rental costs: "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.”

The strategic partnership with Reposit aligns with Boydens' core values and mission to provide comprehensive support for landlords, ensuring they have the peace of mind and protection they need.

Gurman Bains, Sales Team Lead at Reposit, stated: "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."

Reposit and Boydens anticipate that this partnership will contribute to meeting the evolving needs of tenants and landlords in an ever-changing rental market, offering a more affordable option for tenants whilst ensuring landlords see greater cover.