Hi everyone, we signed up on rentnow, and now found a tenant for our property who is happy to sign the contract. However, when I click on ‘ready to rent now’ it only prompts me to request deposit and reference, rather than providing a contract. We are very inexperienced with renting as this would be our first tentant so any help on this would really be appreciated! Thank you very much Giulia & Carlota
- Click rent now for preferred applicant
- applicant pays holding deposit & provides their information
- you order referencing
- when referencing back, if you want to proceed, issue contract
- tenant signs first, then you
- tenant pays 1st month rent & security deposit ( less holding deposit already paid) to Openrent.
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Thank you Karl! That’ so very helpful!
If you are “very inexperienced” then I would not recommend you self-manage until you know a lot more about the business and how to avoid costly errors. Openrent is a great option for experienced landlords, but its not a fully managed option.
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Thank you David. We may need to rethink then it s hard because we at first worked with the agency (26% + VAT their fee) for peace of mind - they advertised at a very high price and we havent had much success with them! So we panicked as time is running out…
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Sorry i only just replied ,I fainted when you said 26% plus vat and have only just been revived by the paramedics
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I feel the same as Colin. I would have thought 26% is way above the going rate for full management.
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Should be nearer 12%
Thank you guys! We thought the same…we went for foxton and that’s the fees for short let. Dexters seem to be the same price. Letting out the property overvalued at 3k pm with no enquires in over 1 month!
26% for short let, I don’t think is too far wrong. My folks pay 27% for the management of their holiday let on the Norfolk Broads
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No success at the 26% tho
Short holiday let’s are a totally different ball game.
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26% +VAT is ludicrous.
Far better to learn to do it yourself unless you are many miles from the property.
Read the forums for a bit (but dont scare yourself off- you’ll hear about any bad experiences much more than the good) and follow the steps on the OR site and you’ll be fine.
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Openrent is a great platform for new or inexperienced landlords. It takes you through the process step by step with help access and forum discussions with more experienced landlords. You don’t get this with agents.
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That is plain daylight robbery!!!
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Yes, but once the tenancy is created youre largely on your own. Inexperienced landlords wont know how to manage the tenancy.
Thank you very much Peter 
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