I have agreed a reduced rent to the one advertised but tenant has been sent a weekly holding deposit of the higher amount which I believe I cannot legally accept. I have changed the rent to lower his tenant area but it still sent him wrong higher holding deposit amount. Would welcome a legally intact solution.
@Helena11 Depends.
If it’s more than 1weeks rent then don’t accept it as illegal as you say
@mod_harry should be able to help you if this was done via OR
Good luck
Thanks for advice I have phoned openrent but a guy types the question to a property expert and says they will reply in 24 hours. I have read to change rent in main advert but don’t want to downgrade rent in public view as I have others interested at the higher rent.
Chat GPT told me to make a duplicate listing and make it private and copy to tenant.
What a rigmarole I have spent hours trying to sort this and presume if openrent do the contract it will also come out at the wrong rent.
There should be a simple solution but isn’t and this whole experience casts a bad light on openrent
that makes no sense at all
as soon as you accept the holding deposit it is taken off the market and the listing is no longer visible to prevent others applying- its not legal to accept more than one holding deposit at the same time
See
“How will the holding deposit be treated? – Help Centre https://share.google/bQEWb2ef4wk1jHouF
“
Unless you have changed in the listing how do you expect OR to know what the correct amount is for the rent/holding deposit- how do they know what new rent you have agreed? It’s perfectly reasonable that OR ask for holding deposit and rent in the contract based on the advert, what else would you expect?
Think you could just accept the holding deposit based on advertised rent then change the rent after referencing when creating the tenancy agreement at which point any excess could count towards 1st month’s rent or maybe get refunded to tenant. Ask OR support or @mod_harry if that would work.
Best
David
Hi @Helena11
The holding deposit value is automatically set at one weeks’ rent of the monthly rental amount you have added on your listing. It’s not possible for a holding deposit of any other value to be placed.
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Thank you for that and yes so the software needs updating to react to the rent in the client portal. I have solved this by pausing the advert ( which I didn’t want to do) next edited the amount on the advert which is not now made public - cancelled the wrong holding deposit then issued another for correct amount.
Obviously landlords and tenants often agree a different rent to the one advertised and so there should be a way of painting the advert rent but adjusting holding deposit to agreed amount ( which is shown in client portal) rant over and it wasted my afternoon
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