I understand that the first month’s payment and deposit are processed through OpenRent, and at this stage, the Landlord’s bank details are not shared with the tenants.
However, I’m unclear whether OpenRent ever shares the Landlord’s bank details with the tenant if the Landlord opts not to use “Smart Rent Collection.” If the Landlord chooses to opt out of this service, are they expected to share their bank details directly with the tenant for payments made after the first month? Or, after the first payment, will the tenant be given access to the Landlord’s bank details? If so, where can they view them?
The Landlord’s bank details can be given to Open Rent at that stage, but they are definitely not recorded on the tenancy agreement nor viewable online to the Tenant when they make the first months payment.
Thanks. Odd that OpenRent do not state anywhere that these details are visible to the tenant after 1st payment is made, maybe because they want the landlord to opt into the “Smart Rent Collection” which means paying through Open Rent
Bank details used to be on tenancy agreement, but are Not now.
I send an email after keys handed over detailing next rent payment and anything else outstanding or additional info needed.
Thanks. You are right that the Bank details are not on the agreement.
Emailing the tenants for this is fine though is not an absolute requirement as the details for the next payment and bank details are already available to them online. Open Rent contacted me with a response…
“Tenants can find the payment details of the account the rent will need to be sent to on their tenancy page under ‘Rent Payments’.”