We do this to protect tenants and landlords, as well as make life easier for both parties.
Landlords must comply with frequently changing laws on handling deposits. If deposits are filed incorrectly, filed late or not filed at all, then landlords can face hefty fines of up to 3 times the deposit amount.
OpenRent can remove both the risk and the hassle.
Tenants are also able to rest assured that OpenRent will handle the money and register it with a certified body so the money is fully secure.
Although we can process deposits, OpenRent doesn't hold the money; it is transferred immediately to the the government-backed DPS.