Deposit Protection Scheme - DPS

Landlord Discussion
1

I have a prospective tenant that I need to credit check and obtain references. They have placed a holding deposit using OpenRent and I am considering using their credit check service.

However, I want to use the DPS scheme to hold their actual deposit should they be accepted as I have several property deposits held in that scheme that I manage.

I think I have read somewhere in these forums that if I go through the OpenRent credit check service and everything comes back fine, then should I proceed with the applicants I would need to use OpenRents deposit holding scheme.

Can someone confirm if this is the case?

1 Like
2

Hi

If you use their rent now service you would need to have the deposit via mydepsits. You can order a standalone reference via openrent for credit check etc and then arrange your own ast and select your own deposit provider.

3

If you just want to use Openrent for advertising and referencing, (as I do) then you are free to place your tenant’s deposit with DPS, (as I do).

4

Thank you Richard19 and David122 for your answers.

What if the prospective tenant has already placed a holding deposit with OpenRent. Should I request that they move it from OpenRent into my business rental account before I do the checks as I would then use this against their first months rent?