Recently put a property on, and lots of viewings that I need to arrange. I have every intention of using OR for the credit checking, tenancy and rent insurance.
I’ve had a couple of people out down holding deposits without even viewing or messaging first. First one I assumed was a scammer of some type, but on the second I had a look on here and it seems it happens a bit. Both were rejected immediately.
I’d like to turn this option off if possible … it might be suitable if I was selling a second hand car, but it seems inappropriate for renting a place before I’ve even had a chance to screen them myself, let alone perform credit checks etc. in no way is someone doing this going to sway me towards them in tenant selection… if anything it seems rather presumptive the assumption that im going to hold something for someone i haven’t even met.
I served notice to a tenant and he paid the holding deposit to the future estate agent before viewing.
She was perplexed by it ( I spoke to her when he had not moved on as expected ).
It’s a scam. They are pressuring you in to taking them .
Thanks, yeh it seems a bit daft. How does it make OR money if they just get bounced (which i assume.most people do?)
Anyway sorry to make my first post a whine… I actually love the way OR have bought everything together in one place. Makes life a lot easier. So good job there guys. But please can we have an option to stop this happening? It can be on by default, but giving us a choice to turn it off would seem to make sense.
I’d prefer it if only I can initiate the deposit request.
I view an enquirer placing a holding deposit as someone seriously interested, seeing location and may have friends living in same type property. I arrange viewings as normal and IF I include them and we proceed , Then I accept deposit so it simply speeds the process up. I do not see it as presumtive on their part, just as very keen. They would in fact get greater consideration from me for doing it.
The option is NOT to use Rent Now. This inability to block holiding deposits being used to prevent other applications is one of a number of reasons why I don’t use or recommend Rent Now. I maintain complete control of the application and tenancy arrangement process.
It baffles me why OR shoot themselves in the foot by not allowing LLs who know what they are doing to customise the Rent Now experience if they want to.
could you provide a source from legislation for that? I’ve been unable to trace one. Feel free to message me if you fear the black hole of moderation will swallow your post for having a link in it.
Its not illegal to continue advertising the property, but the landlord would not be allowed to take a second holding deposit. However, I am not sure whether Openrent systems suspend advertising once the holding deposit is taken.
@tatemono , I haven’t used ‘Rent Now’ but have had someone who had viewed my property place a holding deposit without my consent . It must be possible to just click the ‘place holding deposit’ without using rent now.
I rejected the deposit and the application was declined.
interesting David79. I had assumed it was to do with RentNow. I don’t use RN but have never had anyone do that and I would reject it immediately as you have done, but it seems unfair to the applicant that their application is declined. They have no idea that I don’t want to take a holding deposit.
P33 makes no reference at all to it being illegal to continue advertising after taking a holding deposit. Can you cite the page where you claim it does?
I have always understood this to be illegal.
The landlord association has said it is not illegal but you are not supposed to advertise after an holding deposit is taken as the purpose is that you are moving forward with said applicants.
I stand corrected .
I always place this note in my listing and it works for me.
Important Note:
Please DO NOT click the Rent Now green button until you have viewed the property and received an agreement from me beforehand. Otherwise, your offer and deposit will be rejected and no other offers will be accepted from you.
I keep the property advertised until someone signs a tenancy agreement, that is, even if I’ve verbally agreed and arranged a start date for a tenancy with someone. Advertising per se doesn’t prejudice anyone else’s application, and it does enable me to keep the door open in case someone I’ve offered the tenancy to pulls out at the last minute. If I did take holding deposits, I would still continue to advertise, but I would inform those now at the front of the queue that this is simply as a failsafe for me and that I am prioritising their application.
Those who contact me after I’ve got a tenancy signing/start date organised always get an explanation of what the situation is. At that point, I register their interest and say I’ll be in touch should the expected tenancy not go ahead.