New here. I’ve advertised, had viewings & accepted a holding deposit - still waiting on guarantor to be added. Why is my advert showing as let?
It’s because you have accepted a holding deposit and therefore decided to proceed with that tenant application.
The rules say, you shouldn’t not continue to advertise once a holding deposit is accepted
It protects the potential tenant from being gazumped, but I have always been curious about whether this is Open rent trying to be fair or the law? I have lost potential tenants during referencing (They seem to get their holding deposit back anyway), and so much potential rent gets lost by delays when this happens. The joys of being a landlord.
I find it odd, there want no option - not to accept the holding deposit - before completing the reference checks. And there wasn’t info to me, to know I’d be taking the flat off the market. I guess my method of learning!
If you have satisfied yourself that this is the tenant of choice, you have followed the correct process in my opinion…..
Accept holding deposit, reference, move forward.
You’re self-managing. You’re expected to know the legalities yourself. You might want to include doing some accreditation courses with a LL association as part of your “method of learning!”
Thanks appreciate the info. Not my LL knowledge that’s an issue - it’s OpenRent methodology (or maybe my neurodiverse/learning style), as in I missed the info on OpenRent where I’d selected new tenant must supply holding deposit. And by me accepting said holding deposit before completing reference checks - the flat was changed to ‘let’ when it wasn’t. Ho hum lesson learned - advertise here only & use NRLP for other stuff. ![]()
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.