Is it possible to take a holding deposit through Open Rent without using Rent Now?
I prefer to manage the contract and referencing process myself but the holding deposit facility is definitely useful. However it seems to railroad you into the contract and rent collection package.
I’d happily pay for it separately.
You can take a holding deposit yourself. You can keep it in your bank account and you dont have to protect it. You do have to follow the regulations in the Tenant Fees Act though and it would be sensible to both sign an agreement form so that the tenant is clear what will/can happen to it. You should be able to find a recent template online.
Cheers David - that is what I already do.
I am wanting to use the online holding deposit system by which tenants place a holding deposit online which L can hold or reject. Multiple tenants can place deposits but as soon as you accept an offer it returns all other deposits. I like the way it works. I just don’t want to use the Rent Now contract and rent collection service.
Also, explaining to tenants not to use the formal Open Rent deposit option but to transfer instead into your own account does sometimes raise eyebrows (which it did not do before the option was there).
Ok. Sorry, Ive no knowledge of that.
You don’t have to use the rent collection service after the first month’s rent is paid.
Thanks. I don’t want to use their contract or rent collection services (not for security deposit nor first rent payment). I would however appreciate a facility which takes holding deposits without committing to do either of things.
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.