I have a quick question about your rent collection service that I hope a member of OpenRent can shed some light on.
I’ve had a couple of tenancies through OpenRent and used on-going rent collection as part of your Rent Now service. I’ve never been charged for this.
I have recommended you to others who have likewise used your Rent Now service for ongoing rent collection – However they have started being charged for the service. In one instance £10 per pcm and in the other £5 pcm. Are you now charging a fee for on-going rent collection? I can’t see anything on your website about rent collection charges.
The Rent Now package includes the processing of all initial funds, including the collection of the holding deposit and first month’s rent, along with any security deposit associated with the tenancy.
We also offer Rent Collection as a completely optional add-on to our Rent Now service, which may now incur a small additional monthly fee.
This cost has been introduced to ensure that the Rent Collection Service can continue to be offered to all of our landlords.
Rest assured, all landlords will be notified of the cost of our Rent Collection service before opting in, and they are more than welcome to opt out and collect any rent directly at any time.
‘ which may now incur a small additional monthly fee.’
May or will? Can you be more specific as I had the understanding this service was included, I’m looking to let my properly for the first time shortly and was relying on this to be included which was one of the main reasons I bought the Rent Now service.
It’s not brilliant news if you’re adding varying fees with no explanation or documentation and terms around it - surely there’s information on this somewhere,
I too think this is a sneaky, disappointing move from Open Rent. I suddenly was charged £10 for the service without any previous warning. Very unfair and untrustworthy
P Coda
The rent collection service is completely optional and available to landlords who use Rent Now to create their tenancy. It costs £10 per month and we think it is a great value service - especially when compared to high street agents who often charge 7% of your entire rental income every month, plus VAT.
Our rent collection service reminds tenants of their rent due date, keeps track of payments and any arrears, and chases tenants if they fall behind. It also makes it easy to have an overview of your whole history of rent payments at any time via the OpenRent dashboard. New customers have a clear choice of using the service or choosing not to, and it can be cancelled at any time.
Hope that clears up any remaining questions about rent collection!
Sam
Hi Katarzyna, the price for rent collection in new tenancies is £10 per month. Some landlords who have been with OpenRent for longer may be paying less than this if they have an older tenancy.
