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Starting the Rent Now process requires the landlord to have an OpenRent listing for the property. You can add your property here.
The tenant begins Rent Now by clicking the green 'Rent Now' button on your OpenRent advert.
Tenants need to pay a holding deposit equal to one week's rent using a 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
Holding Deposit FAQ
Where can I find the OpenRent listing page?
A listing page is simply an advert on OpenRent.
Tenants will have been sent a link to the listing page when they first enquired about the property.
If you’re a landlord you can see all your listings here, or if you haven’t listed yet, create a new one here!
Where is the Rent Now button on the listing page?
It’s a green button prominently located on each listing page.
If a landlord has already told us a property is let, the listing might say "Let Agreed" instead.
If that’s the case the landlord will need to republish the advert (which is free) before tenants can apply.
Can the landlord start the Rent Now process? How can a landlord help a tenant to start their application?
Tenants need to initiate the process so we can confirm the relevant details, and take a holding deposit.
If tenants are having trouble applying for a property, the landlord can help by either sending them a link to the listing page,
or simply advising them to reply to any of the emails they’ve had from us - we’ll be happy to point them in the right direction!
Can a landlord accept multiple applications at once?
Tenants applying for a property via Rent Now place a holding deposit of one week's rent and
only get this money back if the landlord cancels or rejects their application.
If they pull out or change their mind, their money is forfeit to the landlord, so they pay this money to demonstrate they are
making a serious application and that they are no longer considering other properties.
In exchange, tenants know that they will able to take the property subject to referencing and the landlord approving their application.
We appreciate that there can be several good candidates for a property at once and that landlords will be reluctant to turn away
their second or third choice. As such we are happy for landlords to reference other groups of tenants,
however they will need to do this outside the Rent Now process. Standalone referencing can be ordered by the landlord as required for
£30 per applicant and can be ordered here.
Further, since the primary tenants within the Rent Now process will likely be accepted if their references are good, we ask that landlords inform the others group(s) of tenants that they may not be successful even if all their references pass, because referencing is also being carried out on another group of tenants who are the first choice.
How do tenants pay the holding deposit? Can they pay in cash?
We accept all major UK debit cards to pay the holding deposit, via a secure online transaction.
Unfortunately we cannot accept cash, cheque or bank transfer for a holding deposit payment.
A tenant doesn’t have an email address - can they still apply?
All tenants and guarantors will require a working email address in order to be included in Rent Now and be named on the contract.
This allows us to create a secure digital signature as well as ensure everyone has the relevant information they need at each stage
of the process. Fortunately creating a new email address is free and quick to set up via
providers like Gmail and Hotmail.
What happens to the holding deposit if the landlord proceeds? What if the tenant pulls out?
The holding deposit is placed towards the first month's rent upon successful contract signing.
If the tenants fail referencing and can't secure appropriate guarantors, or the landlord isn't happy with these tenants,
the holding deposit is returned to the tenants. If the tenants decide they no longer want the property, the holding deposit is
returned to the landlord.
How does the process work in Scotland?
Holding deposits are not permitted in Scotland, so the tenant will make a formal application without placing a holding deposit.
In general the tenancy creation process in Scotland is very similar to England and Wales, though where differences exist between
the UK nations, you can rest assured that our Rent Now service takes these into account so as to make the process as easy as
possible for landlords.
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 - OpenRent keeps everyone updated throughout the process and are happy to advise based on their experience of thousands of tenancy applications. On average, comprehensive referencing takes 3-5 days.
Referencing costs £30 per applicant, with no charge to the tenants.
More info
Tenant Referencing FAQ
What if the landlord doesn’t need all tenants to be referenced?
When accepting the holding deposit, the landlord can specify if only some of the tenants or guarantors need to be referenced. They can also change this at any point even if referencing is already underway. There is no charge for applicants who aren’t being referenced.
What if the landlord doesn’t agree with the referencing report? Do they have to accept tenants?
Every completed referencing report includes a recommendation on how to proceed - however this is a recommendation only. OpenRent landlords are always in control and can choose to proceed or reject tenants at any time.
If a report contains an error, just let us know and we can look into any concerns.
What happens if a tenant fails referencing?
Landlords can still choose to accept tenants even if they fail referencing - the final decision is with them.
A common approach is to add a guarantor or collect additional rent in advance to give the landlord more security.
Obviously in some cases a landlord will decide that the tenants aren’t suitable - if tenants are rejected, their holding deposit
will be automatically and immediately refunded, and the landlord’s property will be
immediately re-advertised.
OpenRent's professional Assured Shorthold Tenancy Agreement provides total peace of mind.
It's created and regularly updated by a team of experienced tenancy lawyers to ensure that you're always in full compliance with the law.
The contract offers the best of both worlds: it's designed to give landlords peace of mind, and it's also very simple to customise for any landlord's individual requirements.
Landlords can review and make changes to the contract at any time before they sign it.
You can learn more and see sample here.
OpenRent offers a speedy, highly secure, and legally binding digital contract signing process.
All parties, including the landlord, will receive instant notifications when it's their turn to sign the contract.
More info
Contract Signing FAQ
Can I see a copy of the OpenRent tenancy agreement?
Can I customise the tenancy agreement or add my own clauses?
The main terms in the contract are set by the details the landlord provided when they created the listing -
price, deposit, contract length, etc, and the landlord also gets a chance to check and confirm these before a
contract is issued. The move-in date is agreed once a tenant clicks "Rent Now".
We advise against adding custom clauses, or using the custom clause section to overrule any clauses in our standard contract -
however, we realise sometimes landlords want this flexibility, and therefore we have enabled the adding of custom clauses.
Note that OpenRent will not look over clauses added, or ensure they are legally sound, so use at your own risk!
Our general policy is to provide a contract that is broad reaching and which reflects industry best practice in terms of protecting
the interests of both parties. As such, we don't feel custom clauses should be required.
If you did want to add custom clauses, heeding the warning above, the landlord can do so at any point during the contract signing phase of Rent Now -
this function is available under the "Advanced Contract Settings".
How can I trust a digital signature?
Digital signatures are becoming commonplace with online and remote transactions in the UK. They not only make the process faster and easier, but they are legally binding and admissible in court - this was established by the Electronic Communications Act 2000 and subsequent EU Directives. See this guidance from GOV.UK for more detail.
Having said that - our contract is available for download as well, so you can ask your tenants/landlord to sign it personally (as well as online) if you prefer.
In the Rent Now process, OpenRent takes care of collecting the tenant's deposit and the first month's rent.
They also ensure that the deposit is properly registered on the landlord's behalf, so the tenancy is legally sound and follows all deposit-related laws.
The deposit is legally secured and all funds are ring fenced in client accounts, audited, and protected by multi-million pound client money insurance.
More info
Deposit Registration FAQ
Can the deposit or rent be paid direct to the landlord?
Within Rent Now, we handle all initial funds so that we can guarantee that the tenancy created is legally sound and that all legal
requirements have been fulfilled.
The deposit will be protected with our partnered deposit protection provider as soon as funds clear, and rent is released shortly after move in.
Making the initial payment is also typically easier for tenants when using OpenRent since we support payment by debit card as well as bank
transfer - and notify the landlord as soon as it's made so that they can hand over the keys when convenient.
If a landlord prefers to handle collection of the first month's rent and/or the deposit themselves, that's fine,
however unfortunately Rent Now will not support this.
When is the rent and deposit payment due from the tenants?
We always advise tenants pay as soon as possible after the contract is signed to avoid any delays with the move-in.
The contract also requires that tenants pay the full balance as soon as the contract is signed.
In practice, where the move in date is some way off, there are often legitimate reasons the tenant may not be able to pay the
full balance immediately, so as such a date is typically agreed that is workable for both parties. In addition to this we are
happy to accept part payment if tenants pay by bank transfer, which is often a good way of giving the landlord comfort that the
tenants are still committed even if they cannot pay the full amount immediately.
Do you handle the prescribed information relating to the deposit?
We have everyone covered on this when using Rent Now. The prescribed information is contained in the tenancy agreement
all parties have signed, including details of the deposit amount, where it will be protected and how it will be treated.
We also double down on this by sending the tenants an email as soon as the deposit has been protected re-iterating all the required information
and attaching a copy of our partner Deposit agency's terms and conditions.
This goes beyond the minimum legal requirement; note that the law states the information is provided to the relevant parties but printed
signed forms are not necessary: https://www.legislation.gov.uk/ukpga/2004/34/section/213.
Who collects the ongoing monthly rent?
We share the landlord’s bank details with the tenants securely via the website and suggest that they set up a standing order.
Landlords can check the details we have on file (if any) at any time by clicking here.
Given that ongoing payments are made directly to the landlord, we advise that all parties discuss this to agree a suitable method of payment.
Which deposit scheme do you use?
Any deposit paid through OpenRent will be held by OpenRent and protected with mydeposits. mydeposits is one of three government backed deposit protection providers and landlords are legally required to protect deposits in a government approved scheme.
At this time our Rent Now service is unable to support either of the other deposit providers. However, subject to eligibility landlords can choose to offer a deposit replacement alternative with Reposit.
It is a requirement for all tenancy deposits to be protected by a government approved deposit protection scheme,
you can find more details about government guidelines here.
If using Rent Now, OpenRent will register the deposit with the scheme on your behalf. Landlords can't choose other scheme providers.
For more information about the difference between the cash deposits and deposit replacement schemes, click here.
Can landlords hold funds themselves under an Insured scheme?
Currently we aren't able to offer this but we hope to be able to do so in future.
Tenants pay the first month's rent and deposit in full, at which point the landlord is automatically notified, and can hand over the keys to their new tenants!
At this point the deposit is secured, and and the rent is deposited to the landlord 10 days after the tenants have moved in.
More info
Key Exchange FAQ
Why do you hold onto the Rent for 10 days before releasing it to the landlord?
The 10 day waiting period is one of our lines of defence against rogue landlords. As we don't always visit the property ourselves, we have to be reasonably sure the property is available, under ownership of the OpenRent landlord, and has been moved into before transferring the tenant's money. This is a requirement to ensure tenants using Rent Now are protected. In an ideal world, where everyone was honest, we could obviously remove this from our system. As a company, we gain nothing by holding onto this money, it is simply an administrative cost and burden.
Should there be an inventory when the tenants move in?
It’s in everyone’s interest to obtain an inventory report on move in - this can either be a professional inspection ordered via OpenRent
or by doing it yourself. The report should be signed and agreed by landlord and tenant on the move-in date to ensure the exact state of
the property is agreed. This helps avoid potential disagreements further down the line, and particularly at the end of the tenancy when
the deposit is due to be returned.
OpenRent provides landlords with a dedicated bank account for rent payments for added privacy. No longer do landlords need to provide sensitive bank information to tenants.
There's no holding period: as soon as the rent is paid to us, we pay it to you, automatically.
We send landlords a confirmation email with each payment made, as well as provide a dashboard showing all previous payments.
This ensures landlord records are up-to-date, easily auditable, and payments are automatically segregated by tenancy.
If the tenant is late on rent, we'll notify the landlord automatically, and chase the tenant on their behalf.
OpenRent's rent collection service is optional; landlords can share their bank details with tenants and opt out at anytime.
Our customer support will be in contact to help you as soon as possible. In the meantime, if you've managed to resolve your issue yourself, we'd appreciate if you could let us know below.