Rent now vs using your own AST/deposit scheme

OpenRent Chat
1

Just wondering whether landlords on this forum use “Rent now” for AST and deposit scheme or do this themselves? I was thinking of not using rent now for the following reasons:

  1. I can tailor the AST to my own needs although most of the ASTs I have seen are PDF documents so difficult to edit. Which AST forms do you use and what extras do you include in them?

  2. I can choose which deposit scheme to put my deposit into. I have heard that the mydeposit scheme is not the best compared to others and I also quite like using the insured schemes which openrent does not currently offer.

Just wondering what other landlords do?

2

Be careful with “tailoring” an AST, pretty much any change you make is not likely to stand up in court.

3

I never use the rent now option, but as above, don’t tinker with legal documents unless you’ve had legal training. I suggest you join the NRLA and look at their model documents.

1 Like
4

Ok thanks useful to know