- We directly transfer you any rental money received without delay
- We monitor for and chase late payments automatically
- Relax knowing your rent has been received, or is being chased
- Dashboard showing the payment status in real-time
- Save hours of admin work
- Keep your bank details private
- Cancel Rent Collection any time - no quibble
Rated 4.9 out of 5 by Landlords
Total Peace of Mind
Our smart rent collection service is designed to take the admin, pain, and any awkwardness out of chasing for rent payments.
OpenRent will provide support if a tenant fails to meet their obligations, as well as give you a clear dashboard and history for all rent payments to make sure you don't miss anything.
We also don't hold funds, and pass money directly to your bank account as it lands.
"Would highly recommend"
"I love OpenRent,
with rental collection everything is made super easy."
Who is eligible for Rent Collection?
All OpenRent landlords using our Rent Now service can use Smart Rent Collection.
You do need to be in the process of setting up a tenancy, or have already set up your tenancy.
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.