OpenRent Community

Deposit transfer

Hi, if I’m renting a property via open rent, and my deposit is held with the DPS, can I just transfer my deposit to a new rental property to avoid having to raise the funds upfront again?

Hi Robert,

Afraid not - we have to collect the initial funds as part of the Rent Now process, so the tenant(s) need to pay this to us before we can protect it with the DPS.

Shortly after we protect the deposit, we’ll transfer it to your DPS account.

George

Hello I am Yasmina Angelova with our reference: W532321. Before 3,4 week I transfer deposit 200£ for one room in Winchester in 140 stanmore line ,SO22 4DP with property reference 503920 but I did not hire the room end I want to returned my deposit quickly please

Hi Yasmina,

Sorry to hear the landlord didn’t go ahead with the tenancy - as indicated by email, the holding deposit was returned upon the landlord cancelling the application.

George