Rent Now: Secure Tenancy Creation
Rent Now is our professional grade tenancy creation service - it encompasses referencing, contract signing, money handling and deposit registration and brings it all online, into a streamlined and transparent process.How it works
Why use Rent Now?
- Professional grade tenancy
- Speed and safety
- No admin fees
- You remain in control
How much does Rent Now cost?
How Rent Now Works
To start the Rent Now process the landlord needs an OpenRent listing for the property (You can add a listing here).
The tenant begins Rent Now by clicking the green 'Rent Now' button on the OpenRent listing.
They will be asked to pay a £200 holding deposit by debit card to confirm their application for the property. The landlord will be notified via SMS and email as soon as the holding deposit is paid, and can then immediately choose whether to accept the application, and if so whether referencing is required.More Info +
OpenRent’s market leading referencing combines a thorough credit check with references from employers and previous landlords to give a clear indication of the suitability of tenants.
The landlord decides who they want to accept - we keep everyone updated throughout the process and are happy to advise based on our experience of thousands of tenancy applications. On average, comprehensive referencing takes 3-5 days.
Referencing is free to landlords within Rent Now - we charge tenants £20 per applicant to ensure they are serious about going ahead.More Info +
Tenancy Agreement Signing
As part of the Rent Now process, OpenRent will draft your contract and have all parties securely sign the tenancy agreement online (learn more and see sample). There is no additional cost for this service and it is included in Rent Now.
If the landlord is happy to accept the tenants following referencing, they simply let us know via the website and we then proceed to contract signing. Once the landlord has checked and confirmed a few details, the tenants will be asked to sign the AST online, and each person will be notified via email when it’s their turn to sign.
The landlord will be asked to sign the AST once all tenants and any guarantors have signed.More Info +
Rent + Deposit Collection & Registration
As part of the Rent Now process, OpenRent will collect the deposit and first month’s rent from the tenants and securely register the deposit on the landlord’s behalf. This makes sure the tenancy is legally sound and fully compliant with legal requirements for deposits. With OpenRent helping to create thousands of tenancies a month, everyone can rest assured they are in safe hands.
Tenants benefit from the convenience of being able to pay securely by debit card or bank transfer 24/7, and the peace of mind of knowing their money will be protected instantly by the largest letting agent in the UK.More Info +
Once the tenants have paid the full balance of the first month’s rent and deposit, the landlord will be notified automatically by email. They are then free to hand over the keys!
The deposit is transferred to the landlord’s control within the DPS scheme within a few working days, and once the tenants have moved in we release the rent to the landlord 7-14 days later.More Info +
We provide tenants with OpenRent's bank details, and they pay us. As soon as the rent hits our account, we instantly send the rent out to you.
There's no holding period, and no fees: as soon as the rent is paid to us, we pay it to you, automatically.
We'll send you a brief confirmation email with each payment we make to you, so your records are up-to-date without you needing to check your bank.
If your tenant is late on rent, we'll notify you automatically, and chase the tenant on your behalf.
The rent collection service is provided completely free of charge, with no strings attached. And, it's completely optional. You don't need to use it if you'd rather get paid directly, and you can opt out at any point.