- Notifies tenants when their rent is due
- Monitors for and chases late payments automatically
- Keeps your bank details private
- Ensures tenants are less likely to fall into arrears
- Passes funds instantly on to you
- Provides a digital record of all rent payments made
- Supports you with Legal and eviction advice - just in case
- Offers rent guarantee insurance for extra security
Zero delay transfer
Rated 4.9 out of 5 by Landlords
Client Money Protection
Remain compliant with Rent Collection
The government is set to make it mandatory for landlords to keep digital records of tax eligible transactions for their tax return.
Smart Rent Collection not only protects you from arrears with automatic rent reminders, but ensures that you stay fully compliant with your own digital payment dashboard.
Your dashboard provides you with a full history of all rent payments made throughout your tenancy.
"Couldn't be happier"
"OpenRent has always helped me protect my property, and now they help me protect my income too"
Who is eligible for Rent Collection?
All OpenRent landlords, regardless of whether or not they use our Rent Now service to setup a tenancy can purchase our Smart Rent Collection service.
How does it work?
We provide tenants with a unique bank account for your tenancy, and they pay into that. As soon as the rent hits the account, we instantly notify you and the payment is sent to you the same working day.
There's no holding period: 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.
What if a tenant is late on rent?
If your tenant is late on rent, we'll notify you automatically, and chase the tenant on your behalf.
If, for whatever reason, your tenant stops paying, we have legal partners who will be happy to help.
How are my bank details kept private?
If you set up Rent Collection from the start of a tenancy, OpenRent will never share your bank details with the tenant.
This keeps your private details secure, whilst ensuring your rent can be paid promptly and securely.
Does Rent Collection impact the tenants credit score?
Currently - we don't report rent payments in real-time to credit agencies. In future this may change, meaning tenants benefit from boosting their credit score by paying on time.
Equally if a tenant fails to pay on time, this would mean they'd be damaging their credit score. Keeping incentives aligned for both tenants and landlords.
If debt collection is required, regardless of real-time reporting, this of course will always impact a tenant's credit score.