Collecting Tenant's Rent

Hi Everyone, I am new to OpenRent and wondered if I could get your help. I’ve signed up for the package that included online contract signing and collection of 1st months rent and deposit. Can I ask, how do you know when the deposit and rent has been paid? Do OpenRent notify you and in everyone’s experience are they pretty quick at doing this? Also, how do you collect the rent every month going-forward if tenants have originally pad via OpenRent? (Don’t want to pay £10 per month for OpenRent to collect the rent). Do you put your bank details in the contract, or just give then to the tenant via email? Any help gratefully received. I’ve let privately before but not via OpenRent. Thanks, Kate

This is why I pay OpenRent 10 quid a month. They notify you of payments, transfer to your account within 24 hours, keep a record of payments and chase on your behalf if it is late.

Thanks Steve. At first I questioned why I’d pay £10 for this service, but on reflection it does seem to make it easier. You don’t have to chase for money or check it’s in. I also wonder if OpenRent chasing for the money rather than us doing it ourselves carries more clout.