So we used the “Rent Now” functionality over the weekend on a property we wish to move to after viewing it and agreeing with the landlord.
The credit check has come back as failed which I knew it would and the landlord was aware of this but he agreed to move forward with the referencing process anyway.
We have tried to get in touch with the landlord but he has not replied since a couple of days ago (referencing came back mid-afternoon yesterday - 4/2). Our main concern is what happens if he decides not to respond to our application, will we get our deposit back?
Is there a limit to the amount of time that we have to wait for a response from the landlord?
Our fear is that now, he won’t accept the application and that we will never get the deposit back because the only way to leave the agreement is the cancel it which means he would get the deposit.
Can anybody give any clarification on this?
Many thanks in advance.
Openrents own wording states:
The holding deposit is placed towards the first month’s rent upon successful contract signing.
If the tenants fail referencing and can’t secure appropriate guarantors, or the landlord isn’t happy with these tenants, the holding deposit is returned to the tenants. If the tenants decide they no longer want the property, the landlord can make claim to the holding deposit to cover the cost of the property being off the market.
I would suggest you ask OpenRent a direct question regarding your situation through your log on portal.
Where a landlord is stalling on making a decision during referencing, we remind them daily of the need to do so.
It’s in their interest to do so after all, even if the landlord wishes to reject a Rent Now application - we won’t re-advertise until they do this, for instance.
Great to see you progressed through Rent Now the following day after this post. We wish you a happy tenancy!