To migrate a tenancy onto our system you will need to create a new tenancy in the OpenRent system using Rent Now.
The process is identical to creating a new tenancy. You will need to add your property by creating a listing here.
You can then choose our 'OpenRent Only' option for free, and your tenants can then apply using the Rent Now tab as usual.
To set up the tenancy, we will need to receive:
- a holding deposit
- a month's rent
- the full deposit amount from the tenants
We need to handle all these aspects of tenancy creation in order to be able to ensure that all legal requirements are satisfied.
If you wish, you can also reference your tenants within Rent Now. You are free to skip this part if you are already happy with your tenants, and can go straight to contract signing once the holding deposit is placed.
Migrating a Tenancy
There are two main things to be aware of to do this:
- The tenancy deposit will need to be paid to us in full so we can protect it and comply with the legal process of notifying tenants. If you have a deposit protected already, you will need to agree with the tenants how you intend to retrieve the funds and ensure we receive them.
- If you are migrating a tenancy involving tenants found for you by another letting agent, you must check if they are entitled to fees, even if the initial fixed term tenancy they created for you has expired and they will no longer be directly involved in the tenancy.
If you are unsure about this we strongly recommend you take legal advice; unlike when you deal with OpenRent, not all agents are transparent about this and we have previously seen clauses in terms of business which landlords aren't aware of.
- Rent Now Guide