OpenRent Community

RentNow: contract template & rent payment

Hi,
regarding “RentNow”, few questions.

  1. Can I use my contract that is completely customized to the property
  2. The rent of the first month will be paid between 7 and 14 days after the tenancy starts. Will OpenRent continue receiving the rent on behalf of the Landlord? If yes, what is the payment date (to the Landlord) from the 2nd month onwards assuming a tenancy starting the first of the month?
  3. Will OpenRent transfer the rent via Bank transfer?
  4. Is the £49 RentNow fee a “one-off”?
  5. Does the £49 fee include the tenant reference or this is additional? If so, how much?
    Thanks, regards

Hi Pier, sure happy to answer these for you.

  1. No, you have to use our AST in Rent Now, but you can add custom clauses if you want. Here’s a guide.
  2. OpenRent can collect the rent for you going forward. Unlike the first month’s rent, there is no delay from us, and the rent is passed on to the landlord as soon as it is paid by the tenant. If the tenant pays early, you receive the rent early, and we automatically log each payment for you in your tenancy management screen.
  3. Yes
  4. Yes. All our fees are one-off, upfront fees including VAT.
  5. Rent Now does not include referencing

Sam