Hi, I have found a tenant and would like to have the contract drafted and signed only. I want to handle other things such as the deposit collection and registration.
@Taurus_Star then use someone else. That’s not what OR offer. If you use them for tenancy creation they insist on doing deposit registration and collecting 1st month rent.
Good luck
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I’ve never tried it but why not set up the contract with openrent and ask the tenant to pay the deposit and first months rent to you and just ignore openrent’s requests. Instruct Openrent to return the holding deposit. Bob’s your uncle.
@Howard1 doubt OR will return the holding deposit if tenancy going ahead as it’s part payment towards 1st month rent but they will transfer to LL, up to 10 days after move in date/start of tenancy.
As you say LL could get tenant to ignore requests from OR for balance of 1st month and get tenant to pay it direct to LL and to pay security deposit direct to LL. LL should then update on OR tenancy dashboard to indicate paid separately. Disadvantageous to tenant tho as not protected via OR.
Best
Are they going to keep first rent or hold it for just 10days?
Hi @Taurus_Star,
As part of the Rent Now process, OpenRent will need to handle all the initial funds. We do this so that we can guarantee that the tenancy created is legally sound and that all legal requirements have been met. The deposit will be protected within the government approved MyDeposits deposit protection scheme. The rent is then released 10 days after the move in date stated on the contract.
If you explicitly want to handle collection of the first month’s rent and/or the deposit yourself, unfortunately, this is not compatible with Rent Now:
they don’t keep it ! It’s tenant paying you the rent.
Reason it goes through OpenRent and they keep for 10days is to protect tenants. If a rogue LL didn’t hand keys over on move in day then OR can refund the rent etc back to tenant
Best
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