Welcome to PeerDeposit
Your Trusted Deposit Surety Service
Backed by Westwood Lodge , PeerDeposit is a secure and affordable solution designed to support both Landlords and Tenants in the residential rental market — including students and young professionals.
What Is PeerDeposit?
PeerDeposit offers an innovative Deposit Surety that makes it easier for tenants to secure accommodation without upfront deposits, while helping landlords manage risk related to damages or missed payments.
Instead of paying a traditional deposit, tenants subscribe to a monthly surety service. Should any damage occur or rent go unpaid, the landlord may claim under the surety — up to the selected coverage level. Tenants remain responsible for reimbursing PeerDeposit for any amounts paid out under the surety.
Full terms and conditions can be reviewed in our PeerDeposit Agreement.
How It Works
- Either the Landlord or Tenant can initiate the application and become the Applicant.
- If the Landlord initiates the process: they must confirm who will pay for the service — this must be agreed with the Tenant.
- If the Tenant initiates the process: they must ensure the Landlord accepts the use of the PeerDeposit Surety and agree on who will pay the monthly fee.
- Coverage options range from R2,000 to R10,000 based on your selected surety level.
- The surety becomes effective on the occupation date and continues until the tenant vacates or payment stops.
- Communication is ongoing with both parties to ensure transparency.
- Tenants, however, remain liable for rent, damages, and reimbursing any claims paid under the surety.
Pricing Structure
One-Time Registration Fee: R750.00 (non-refundable)
| Deposit Surety Amount | Monthly Fee |
|---|---|
| R2,000 | R67 |
| R3,000 | R98 |
| R4,000 | R127 |
| R5,000 | R154 |
| R6,000 | R175 |
| R7,000 | R193 |
| R8,000 | R207 |
| R9,000 | R218 |
| R10,000 | R225 |