Does OpenRent hold or return the tenant security deposit to Landlord after tenancy starts ?
when tenancy starts the holding deposit is transferred (along with balance of 1st months rent) by OpenRent to the LL.
https://help.openrent.co.uk/hc/en-gb/articles/115001490632-How-will-the-holding-deposit-be-treated
"If the Landlord Accepts the Application
If the landlord accepts the application, the holding deposit will be protected in OpenRent’s client funds account while the tenancy is set up. Once the contracts have been signed, the holding deposit will be put towards the first month’s rent payment."
The security deposit is deposited by OpenRent into mydeposits and returned to tenant when tenancy ends.
Normally within 10 days of move in date/start of tenancy
Good luck
Do you mean the Tenants Tenancy Deposit (often 5 weeks rent) or the Tenants holding deposit, one weeks rent?
I mean the tenants tenancy deposit (5-weeks rent), which the landlord is expected to protect in a secure deposit under government scheme
I mean the tenants tenancy deposit (5-weeks rent), which the landlord is expected to protect in a secure deposit under government scheme
“Does OpenRent hold or return the tenant security deposit to Landlord after tenancy starts ?”
NO. Openrent protect it by putting it in a govt scheme. It is the tenant 's £ there is no reason either for Openrent to hold it or for them to ‘return’ to the landlord (who never had it in first place)
See
"We Register Your Security Deposit
We also make sure your security deposit is safely protected in a government approved deposit protection scheme. We’ll make sure you get all the necessary information about how the deposit works, and how you can contest any deductions your landlord might want to make at the end of the tenancy."
https://help.openrent.co.uk/hc/en-gb/articles/115001548711-How-does-Rent-Now-protect-me-as-a-tenant
Best