Can we skip holding deposit?

Landlord Discussion
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Could I ask do we have option not to taking holding deposit from “Rent Now” and go straight to signing contract?

2

Don’t think this is possible with Rent Now. But that holding deposit goes towards first month rent anyway, which also needs to go via OpenRent, it’s not an additonal fee.

3

You can do referencing without taking a holding deposit so that everything is ready but to go through the rent now process you will need a holding deposit
Pbefore contracts are signed.

1 Like
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Hi @Richard19 - new landlord here and we have had multiple viewing applications. 2 x potential tenants requested viewing the property early (even though it is not finished refurb) and both have confirmed holding deposits. It says that I have 96 hours to make a decision, but have 10+ viewings booked in early next week. I did like one couple so don’t want to lose them but want to honour the bookings made for when the property is finished. Any advice hugely appreciated?

5

Hi @Greg7 - This is a slightly different question to the original post.

However, if you’re not ready for a holding deposit yet, simply:

  • Scroll down to: “View Cancel / Reject Application Options”
  • Click: “Click here to send message to tenants”
  • Type a message to the tenants saying “I’m waiting for all viewings to complete before requesting a holding deposit”
  • Click “Cancel Rent Now Application And Refund Holding Deposit”

Thanks!

6

Many thanks @Daz.
Wasn’t sure if rejecting the deposit would mean that we could not proceed with them in future. Glad its OK.
Please could I impose on you for another question? We do want to proceed with them and have already standalone ref him as the lead tenant. He passed all with flying colours other than the affordability, which was because it was assessed on just his salary but will be a joint tenancy with his wife, who earns more. Can i now just ref her through Rent Now and will it then link both refs for affordability as it is the same property?
Want to do this asap, so appreciate any feedback.
Thanks so much
Greg

7

Yes - if after you accept a holding deposit, you will be able to pull in standalone references into the application so it’s all linked together properly (and without having to pay for references multiple times). Once you get to that point, it should all be fairly clear, but do contact our team if you run into any issues.

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