Hello everyone,
I would really appreciate some help/guidance here if you could spare a few minutes.
So ive been navigating around the website but still have some questions.
Bit of background…ive moved away for work and left my empty house in the hands of the estate agents. They tell me theyve had lots of enquiries and viewings (i obviously dont know if this is true) but this has been over a month now and i still have a mortgage to pay and the house is still empty.
So ive checked out openrent to see what goes on here but i have some concerns/questions
So am i less secure in renting out on openrent rather than through an estate agent?
I see we still have the option on getting references but am i less secure in removing them from my house if they dont pay?
My estate agents offered my teh use of a company that still pays me if the tennent doesnt pay , does anyone have any experience of good companies to use please?
Why do tennents prefer open rent or private rent rather than estate agent? i know the fees are less but what else?
Have you had good/bad experiences of using openrent ?
Sorry for the questions and i would really appreciate any help. Ive never let my house out before so a little wary
Hi Marissa, sorry to hear you’re having a hard time tenanting your property! I’m sure that OpenRent can help and I’d be v happy to answer all your Qs.
No - we create thousands of tenancies every month that use our Assured Shorthold Tenancy agreement. The whole Rent Now process sets up a secure tenancy that meets your legal obligations as a landlord, so there’s nothing to worry about.
Yes - if you use Rent Now, then you can reference any potential tenants at no extra cost. If it comes to needing to evict your tenants, you can make use of our extensive eviction support material in our Help Centre and blog
We also have legal partners who will give you legal advice for free in the case of eviction or rent arrears. As you’ll know, high street agents usually charge extra for this.
If your OpenRent tenants or their guarantors pass referencing, then you’ll be automatically eligible for our fantastic Rent Guarantee Insurance policy that guarantees your rental income for a year for a one-off payment of just £89. More info here.
Tenants love to meet their landlord and have a direct relationship with them. They love not paying any agency/admin fees, as you know, and not having to deal with inefficient middlemen with their own third-party interests. Tenants can pay their move-in moneys any time via our website, and they like that we hold their money until they move in, so they know they are safe from scams.
I’ll leave your other questions for other members of the community!
If you need any help listing your property, just email the team at FAQs | OpenRent
HI Marissa, You say you’ve moved away, but are you still in the country? If you were abroad you would need an agent of some sort in the UK for your tenants to contact. If you’ve never let before it may be a little tricky for you to manage it yourself from a distance, but not impossible. I suggest you read up on the current renting position - read all that Openrent has to offer first. You will be responsible for getting all the paperwork together when a suitable tenant is found. If you use Openrent some of that is done for you which helps. It is VITAL that you serve the right docs at the beginning, otherwise you may not have the option of serving a Sec 21 later if you need to give notice because things have gone wrong.
I think some renters like having an agent to deal with because it is an unemotional relationship! But the no fees is certainly commending Openrent to them. By the middle of 2019 it is expected fees will have been outlawed.
I wouldn’t personally want to rent out my house without meeting the tenants, and corresponding with them, as you can tell a lot that way about how the relationship may go. If you are not present at all you may end up paying for an Inventory Clerk at beginning and end, and you would do well to have a set of workmen you can call on for repairs.
In terms of security as long as everything is done legally correctly it won;t make any difference using Openrent at the start, or an estate agent. What the agent meant about being paid in the event of tenants defaulting is an insurance scheme of some sort. Openrent’s is certainly a very competitive rate. I haven;t tested it as I took a tenant who didn;t meet the criteria - but is nevertheless a good tenant!
Hope it goes well for you, and that I’ve answered some of your questions.