3 months rent up front

How will this work with Open Rent. 3 months rent is being paid in advance will this work or should I take two months myself and let Open Rent take the first month?

HI Daniel, within Rent Now, it’s the second option. We’ll collect the first month’s rent and the other months’ rent can be paid to you.

Here’s more info on how this works:

Would Open rent still take a months rent if the potential Tenant paid 3 months up front instead of the one asked for but also could supply references & a Guarantor

Hey Marie, we take the first month’s rent within Rent Now, and then pay it on to the landlord when the tenants move in.

If the tenant wanted to pay three month’s rent upfront, then they would do this by paying us 1 month’s rent via Rent Now and then paying the landlord 2 months’ rent directly.

I’m not sure I fully understand your question. This isn’t really to do with referencing or guarantors – it’s just about the mechanics of how Rent Now can accommodate situations where the landlords and tenant have agreed to pay rent in advance.

In Rent Now, we handle all the move-in moneys on behalf of the landlord and that includes the first month’s rent.

I may be in this situation where tenant wants to pay 6 months up front. Advice I’ve read is to only take 5 months (1 to OpenRent and 4 to me ) leaving 6th to be with a standing order mandate. The reason being that otherwise it could be assumed that the Rental period is 6 month rather than monthly and that could have consequences re notice periods. That final payment of 1 month at the end sets that straight! My question is whether anybody has a neat legal clause for this, which safequards that 4 months rental is not in fact a deposit?

Hi Sam

Thank you for that, I thought the Help centre reply said yes, this is a common solution if the tenant cant pass references or provide a guarantor, So even if the tenant had references etc & pays 3 months up front then Rent now still applies. I understand that now. Thank you again