New landlord to open rent - Process steps

Landlord Discussion
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Hi , I’m new to open rent and just in the process of viewings on my let …

I’m finding it very confusing on the order of process and how it works !

If anyone can advise me or if there’s a step by step guid video for landlords renting on open rent i would be very grateful !

I have one tenant who is interested in taking the flat but i also have a couple more tenants that i would like to keep in the picture and to carry out reference checks on before i deciding on who to go with. Until i have made a decision on who to let the flat to do i just order reference checks on all the tenants i’m interested in before asking them to hit the rent now button ?

Any advice would be much appreciated .

Thanks Joe

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you can reference as many tenants as you wish to pay for

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Thanks Colin, do i need them to push the holding deposit button yet or wait for the referencing to be done first ? i want to keep the listing live for now until i see the credit check results , much appreciated , Joe

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don t let anyone put down a holding deposit Before you get a reference back . They will think they have the place sown up

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Don’t let anyone commence Rent Now until you have chosen your tenants. It takes the listing offline and says the property is no longer available, completely confusing everyone.

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thanks for your help , will make sure they don’t hit the rent now , with the referencing , do i as the landlord request this or does the tenant request ?

Thanks Joe

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Hi Steve, can i ask at what stage do i request a holding deposit ? I’ve just ordered refrencing for one potential Tennant but not sure at what point i request a holding deposit as i want to keep my listing live until i receive the results of the referencing and credit check .Appreciate any advice you may have , Thanks J

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Hi again. You order the references. If and when you are happy with the references and have chosen the tenants you want, then proceed with Rent Now to set up the contract.

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thanks again and i understand but at what point do i request a holding deposit ? thanks J

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Contrary to Steve11, I select a preferred new tenant, having determined their employment, family situation, general acceptability etc, and then take a holding deposit before taking references, which I look to for confirmation of what they have already told me about employment, credit worthiness, reliability as a tenant etc. I do it in this order as reference checks cost money and can take time. Also, If I were a prospective tenant, I might be reluctant to go through all the disclosure involved in a refererence, knowing that I was just one of several being considered.

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If I were going through this again I would probably follow Richard38’s process for the reasons he gives.
Most High Street agents seem to do it this way round too, and if it turns out the applicant has lied about anything significant the holding deposit is retained, and can be used to pay for referencing the next applicant.

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Hi, I just saw this thread. I’m also a new landlord to OpenRent and so far have my first 5 viewings booked for this coming Saturday.

What I would like to know, that’s been discussed in this thread, is how am I able to ‘make sure’ (as Joe says) my preferred prospective tenant hits the Rent Now button and not my second, third, fourth, or unsuitable choice? I thought (but could be mistaken) that anyone could hit that button at any time, I don’t have control over it?

And is there such a thing as politely rejecting a Rent Now applicant, without putting them off from re-applying, because I’m still considering my options?

Thanks

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If 3 out of 5 turn up you will have done well… Simply say I must be fair to all applicants so do not hit the button or I will be miffed and it lessens your chance of renting from me (or words similar)

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