OpenRent Community

How to amend acceptable deposit amount on OpenRent

Hi I accepted an offer slightly less than the asking price for rental. However, I still want a five week security deposit - reduced to reflect the lower accepted offer. The tenant says that it needs to be amended on their end on OpenRent. Can anyone advise? They can’t seem to do the five week deposit can they for the full amount advertised. I don’t want to change my advert until everything is signed and sealed.

Hi Tanuja,

Great to hear you’ve found a tenant!

The security deposit is capped at 5 weeks’ rent, though in the dropdown menu when landlords edit listings - as you’ve done to change the rent - you can input a custom amount below 5 weeks.

Once you’re happy with the security deposit amount, you can update your listing and prompt the tenant to place a holding deposit.

George

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