The first month's rent
As part of the Rent Now process, OpenRent will collect the deposit and first month’s rent from the tenants and securely register the deposit on the landlord’s behalf. This makes sure the tenancy is legally sound and fully compliant with legal requirements for deposits. With OpenRent helping to create thousands of tenancies a month, everyone can rest assured they are in safe hands.
Tenants benefit from the convenience of being able to pay securely by debit card or bank transfer 24/7, and the peace of mind of knowing their money will be protected instantly by the largest letting agent in the UK.
Who collects the ongoing rent payments?
We offer a Rent Collection service as part of Rent Now. Rent Collection is entirely optional, so landlords can still chose to collect ongoing rent directly from tenants.
If a landlord opts out of Rent Collection, we'll share their 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.