Updating post from Reddit.
As previously mentioned in the title, I've decided to pick the 1-week deposit scheme (Reposit) which is not refundable. I'm totally fine with the deposit being gone, however I'm worried that they might still hold me liable for damages and my deposit won't cover it. Should I ask if it's possible to swap schemes or am I overthinking?
These schemes are essentially a way for landlords to subvert the deposit protection schemes, because they fall outside the protections of those schemes.
Don't touch them with a bargepole.
Thank you
The scheme providing the cover will initially cover the claim but they will then seek to recover their costs from you.
If the costs exceed the cover provided then the landlord will have to eat the costs (but I assume they could try to claim any losses via small claims court).
This will only be an issue if you return the property with chargeable costs identified via the check in / check out process.
In short, return the property in the same state as you got it and you should be fine.
That is not how that works. A deposit is always refundable, you may have paid a holding deposit which the landlord can't keep if you chose not to rent or lie to them, but that would then be refunded/ deducted from your rent.
It is a “Reposit" which I've not heard of before but it is described as “Reposit is a deposit alternative that allows you to pay a non-refundable fee instead of a traditional deposit. This option can reduce your upfront costs and still provide the necessary protections for your landlord".
Okay in which case you are also paying a monthly fee, which is likewise non refundable.
The easy answer is to not damage the property and then you won't have any costs you're liable for. Make sure you document what state it is in when you move in - pictures and video and the same when you move out.
You will need to read the contract you have signed and see what it covers and what fees they charge for if the landlord claims/ you challenge the landlords claim.
You have it wrong (can't keep)? I think you mean CAN keep!.