Hello. We are using rentnow and our tenant has agreed to five months rent in advance. (Openrent says six months is a bad idea).
The tenant has expressed reservations sending that amount of money to openrent, which in fairness few people have heard of.
Is it possible for them to pay the first months rent and deposit to openrent and the rest to us directly? Or does this mess up the whole system.
Incidentally when they say all money is protected by “client money protection insurance” does anyone know what this amounts to? Is there something you can check. The property ombudsman scheme is pretty toothless and it does occur to us that we are paying £50 to openrent but entrusting them with £8000 for around a month. If they did collapse we would presumably be responsible to the tenant for the money. I really don’t expect it to go wrong but it is a though?