Bank Detail notification for tenants using RentNow

At what stage do Openrent give the Landlords bank details to a new tenant, when using RentNow. The first option I get to select a default bank account is after the contract has been signed, but I’m confused when & how this information is given to the tenant.

Hi @Karl11 - It might be worth reaching out to our support team directly so they can point you in the right direction specifically for the property you’re referring to. I don’t want to post anything here publicly about any of your properties / links to your tenancies.

However, at a high level, the bank details the tenants should use are outlined on the tenancy dashboard. This is made available after the tenancy has been set up (so first month rent + deposit received). Before that point in time, the tenants have a payment screen (which landlords can also see), which outlines how to pay the first month’s rent and deposit. Where a landlord is using our Rent Collection service, these details are the same - however if the landlord is collecting rent directly, then the details for paying the first month’s rent and deposit will differ, and so tenants aren’t notified / this isn’t made visible until the initial money has been received.

At this point, depending on whether rent collection is used or not, instructions are sent to the tenants. We also advise that they set up a standing order.