You’ve probably recently stumbled upon OpenRent – the online letting agent that sounds way too cheap to be anything other than a knock-off outfit that’s held together with gum.
So now you’re fumbling around the internet, doing your due diligence, trying to work out how it all works, and whether OpenRent really can help landlords effectively find tenants for peanuts, or whether it’s all just a scam.
You’ve come to the right place.
But first, before getting into the meat and potatoes (in case you’re here just for a discount code/promotional offer)…
OpenRent Special Offer – FREE 5 day trial, no obligations!
OpenRent are currently offering Property Investment Project’s readers a FREE 5 day trial for their tenant-find service, which includes getting your vacant property listed on Rightmove, Zoopla & PrimeLocation!
No strings attached or obligations to use OpenRent’s service after the free trial expires (as the review below explains).
Table of contents
- OpenRent service overview
- OpenRent Tenant-find packages
- Is OpenRent a scam? Is OpenRent safe to use? Is there a catch?
- My experience with using OpenRent (did I find tenants for free?)
- Step by step guide to using OpenRent (from registering to finding tenants)
- Which OpenRent Tenant-Find package should I choose?
- Is OpenRent suitable for new landlords?
- OpenRent’s FREE trial explained
- Is OpenRent the best Online Letting Agent?
- How are OpenRent able to offer such low prices?
OpenRent service overview
To ensure we’re all on the same page, here’s a brief overview of OpenRent’s letting services…
- OpenRent is a super cost-effective online letting agent – their tenant-find services start from as little as £39.
- OpenRent was launched in 2012
- Their core service is helping landlords get their rental properties listed on Rightmove & Zoopla (to help generate enquires from prospective tenants)
- They are currently the most popular online letting agent, with over 3000 Rightmove listings (at the time of writing this overview)
- They have accumulated over 1,700 reviews on their public Google profile, with the vast majority being extremely positive
OpenRent Tenant-find packages
Letting Agent | Rating | Term | Includes / Notes | Price | |
---|---|---|---|---|---|
OpenRent | RatingGoogle Reviews | Duration 5 days / 3 months* | Includes / NotesUltimate Advertising package
*5 days free, and then the option of continuing service for 3 months for £39 for new customers and £49 for returning customers! | PriceFree Trial*FREENo hidden fees, no credit card details required! | Visit Website |
OpenRent Top Pick | RatingGoogle Reviews | Duration 3 months | Includes / NotesAdvertising + Rent Now package
| Price£69 Inc VAT | Visit Website |
Is OpenRent a scam? Is OpenRent safe to use? Is there a catch?
To start off, I’m going to address one of the most common questions I get asked about OpenRent.
The purpose of this blog post is to provide clarity and alleviate the concerns of landlords that find themselves grossly suspicious of OpenRent’s service.
OpenRent claims to offer a tenant-finding service inclusive of a listing on Rightmove and Zoopla for a puny £49 fee (£39 for new customers). A fee that looks like a total freak of nature, not only when compared to our local high-street agents, but also other competing online letting agents.
Then, when you throw in the fact that OpenRent are currently offering a no strings attached, 5 day free trial for their tenant-find service (yes, FREE-FREE), the alarm bells are really start pounding.
I’ve personally used OpenRent to find tenants several times during the last decade, so let me give you the lowdown.
Is OpenRent a scam? The short and only correct answer: NO!
- OpenRent is absolutely legit – they’re the real deal.
- They’ve been providing letting services to landlords since 2012.
- They are a member of the Property Ombudsman, which means they commit to TPO Codes of Practice, enabling their customers to escalate any complaints directly with the Property Ombudsman if they are dissatisfied with the service provided.
Is the free trial actually “free”… no strings attached… no dodgy small-print… no credit card details required? Yup.
So I could end up marketing my property on the biggest property portals in the UK (e.g. Rightmove, Zoopla and Gumtree etc.) and consequently find tenants without spending a penny, all through OpenRent’s free trial offer?
Exactly.
Long story short, OpenRent’s letting services for landlords is an absolute bargain!
OpenRent’s free trial and cheap-as-peanuts service is legitimate. If you opt for their free trial (which I can’t see any reason not to if you’re considering their service), you’re under no obligation to continue once the trial ends. However, if you choose to continue, you can extend the service for another three months for a very reasonable price of £49 (£39 for new customers).
So if that’s what you wanted to hear, then go ahead…
Try OpenRent for Free (exclusive deal)
There’s nothing to fear.
My experience with using OpenRent (did I find tenants for free?)
I most recently used OpenRent earlier this year, and of course, I took full advantage of their free trial. I’m certainly not too proud to grab a free meal, spank you very much.
The process to submit my property details via their intuitive dashboard and get my property listed on both Rightmove and Zoopla was a breeze. I did NOT have to enter any credit card details.
Within just a few days, I had received a dozen or so enquiries in the form of emails and voice-messages, which was amazing (but not surprising to be honest, I’ve had similar results before).
In theory, I could have most likely found tenants for free during the 5 day trial period. However, I happily ended up paying the £49 for an extra 3 months service, because…
I like to give all suitable applicants the opportunity to view the property, so that way I have a greater pool of tenants to choose from.
The viewings spanned over a week, which meant I wouldn’t get to meet everyone during the trial period, and my golden rule is to never stop the hunt until contracts have been signed and a deposit has been received (I would NEVER recommend putting the brakes on marketing until tenants have been absolutely confirmed, simply because deals breaking and situations changing is overwhelmingly common).
I suspect that while many landlords do find tenants during the 5 day trial, I think many also end up paying the £49 upgrade (or £39 if they’re a new customer) fee to keep their property listed on Rightmove & Zoopla; it’s unlikely most landlords will receive enquiries, take viewings and sign contracts within 5 days!
To be fair, I think the trial is there just to give the sceptics a taster of what to expect, and prove that the system works.
In conclusion, I used OpenRent’s free trial and received a buttload of enquiries, but I still paid £49 to extend their service because I wanted to continue receiving enquiries until a contract was signed. I actually did end up signing an awesome tenant that applied during the trial period, but it took approx. 2 weeks to complete due diligence and get contracts signed.
All for £49.
Total bargain.
I’ve been using online letting agents (including OpenRent) for over a decade now, and I honestly can’t ever imagine myself going back to using a high-street agent again. In my mind, that would be taking 20 steps backwards.
I must have saved several thousands of pounds by making the switch. Yes, using an online lettings service like OpenRent does mean I have to do more leg-work (i.e. schedule and conduct viewings), but the savings make it worthwhile, but furthermore, I’ve always been a strong believer in landlords conducting their own viewings, because to be frank, I think it results in a more rigorous screening process that produces better quality tenants.
Step by step guide to using OpenRent (from registering to finding tenants)
- Choose your tenant-find package – choose between OpenRent’s Ultimate Advertising (includes 5 day free trial) and Rent Now package (I compare both packages below to help you decide)
- Create your listing – this includes adding the property description, photos, a floor plan, and a copy of the EPC.
- Provide proof of ownership – as per Rightmove’s terms and conditions, you will need to upload proof of ownership (e.g. Register of Title, landlord Insurance policy etc) if you wish to have your property listed on their portal. This is to help prevent fraud.
- Pre-screening/filtering applicants – not only during my most recent experience using OpenRent, but also previous times, I found myself inundated with enquiries, many of which were either of frustratingly poor quality (time-wasters, basically) or from unsuitable applicants. Consequently, I found myself wasting a lot of time separating the wheat from the chaff.
OpenRent pushes their stock onto Gumtree, so I suspect many of the poor quality enquiries stem from there (Gumtree is notorious for generating less than desirable applications, although a great platform for lead generation, no doubt).
Fortunately, OpenRent provides pre-screening tools which help with qualifying applicants and ultimately filtering out a lot of the unsuitable applicants. I definitely recommend taking advantage of the pre-screening tools by enabling them.
- Pre-screening feature: if this is enabled, it forces applicants to answer a series of questions based on the exclusions you set when you created your advert. For example, tenants with pets or DSS tenants. OpenRent we will check they meet your criteria before allowing tenants to request a viewing of the property.
- Auto-reply feature: if this is enabled, an auto reply email will be sent to anyone when they request a viewing.
You can set what is in the email, such as the times available for viewings and you can also ask your own specific questions to applicants, to assist with the filtering process. For example:
- What is your current living situation, are you renting?
- Why are you looking to move?
- Can you provide a guarantor?
- Do you have any CCJs and if so, please provide details.
- What is your occupation and the occupation of any adults who would be living there?
- How long do you plan on living in the property?
- Communication & viewing scheduling – all communication and scheduling can done through OpenRent’s dashboard, which is great and very intuitive to use.
- Tenant referencing – once you have confidently decided on a tenant(s), you can use OpenRent’s referencing service to run background checks and verify your tenants. I can’t overstate how important it is to thoroughly reference tenants.
- Sign contract / tenancy agreement – once the tenants have passed the referencing stage (with flying colours), OpenRent sends a draft copy of the tenancy agreement for approval. Once approved, both landlord and tenant can digitally sign contracts.
- Upload landlord documents – to help with compliance, OpenRent will require you to upload documents to the OpenRent dashboard that need to be served on tenants:
- Copy of landlord insurance policy
- A valid Gas Safety Certificate
- A valid Electrical Installation Condition Report (EICR)
- A valid Energy Performance Certificate (EPC)
If you don’t have any of these documents, I recommend acquiring them before listing your property. They’re available for purchase directly from OpenRent, or you can source your own. You can visit my Landlord Shop for a bunch of recommended suppliers (I often have exclusive discounts and rates available).
Once the documents are uploaded, they’ll be served on the tenants and recorded (which can prove to be crucial to prove compliance).
Which OpenRent Tenant-Find package should I choose?
If you visit OpenRent’s product page you’ll be presented with three “tenant-find” packages to choose from.
OpenRent’s free trial package is only available by using this exclusive promo link (or any of the other links to OpenRent in this blog post), you won’t find it if you go directly to OpenRent’s website and navigate to the product pages.
5 days free, and then the option of continuing service for 3 months for £39 for new customers, and £49 for returning customers!
PACKAGE 1: ‘OpenRent Only’ – IGNORE IT!
I would personally stay well clear of the “FREE” package, as enticing as it seems.
The free package will get your property marketed on only their own website (i.e. that package will not get your property listed on Rightmove or Zoopla). Quite frankly, it’s garbage. Sorry, OpenRent!
I’ve already emphasised the epic importance of marketing vacant BTL properties on Rightmove– and there is no substitute for it.
If you want the best chance of filling your vacant BTL property and finding tenants quickly, then get your property on Rightmove. That’s it.
PACKAGE 2: ‘Ultimate Advertising’ – 5 day FREE Trial
This is the package I get quizzed about the most, because it’s available with a free trial that includes those precious Rightmove & Zoopla listings, which mean it’s entirely possible to find tenants for absolutely free.
Letting Agent | Rating | Term | Includes / Notes | Price | |
---|---|---|---|---|---|
OpenRent | RatingGoogle Reviews | Duration 5 days / 3 months* | Includes / NotesUltimate Advertising package
*5 days free, and then the option of continuing service for 3 months for £39 for new customers and £49 for returning customers! | PriceFree Trial*FREENo hidden fees, no credit card details required! | Visit Website |
PACKAGE 3: Advertising + Rent Now
Even though this package isn’t available under the free trial offer, it’s still quite frankly, peanuts – at only £69. And it’s totally worth it if you want the extra features it comes with.
OpenRent’s Rent Now package comes with all the features provided in the Ultimate Advertising package, plus the following:
- Tenancy creation service – allows the landlord to create a custom tenancy agreement and get it digitally signed.
- Deposit registration – registers the deposit with MyDeposits, and serves the prescribed information to the tenants.
- First month’s rent collection – collects the first rent payment on the behalf of the landlord. There is an option to continue the rent collection service for £10 per month.
I know a lot of landlords opt for this package because of the tenancy creation service feature alone. But if you already have a tenancy agreement that you’re happy with and you’re happy to protect your own deposit with a deposit scheme (which is what I do), then perhaps the free trial package is the way forward.
I’ll leave it in your capable hands to decide.
Letting Agent | Rating | Term | Includes / Notes | Price | |
---|---|---|---|---|---|
OpenRent Top Pick | RatingGoogle Reviews | Duration 3 months | Includes / NotesAdvertising + Rent Now package
| Price£69 Inc VAT | Visit Website |
Is OpenRent suitable for new landlords?
So I don’t think this question is exclusive to OpenRent, but online letting agents in general.
Unfortunately, I can’t answer this question for you, because it hinges on how much of the legwork you’re willing to do and responsibility you’re willing to take on as a landlord, while also weighing the potential cost savings offered by using an online service like OpenRent.
I will say, though, as a general thought: if your preference is to be a hands-off landlord and minimise your involvement, and you’re willing to pay the doe for the convenience, then OpenRent is probably not for you – I’d say you’re better off using a reputable high-street letting agent to take over the entire process (even though that can also come with its own set of challenges). However, if you’re open to conducting viewings and engaging directly with your tenant(s), platforms like OpenRent could offer a fitting solution.
I’ve written a complete guide on Online Letting Agents, which specifically covers the topic of high-street letting agent Vs online letting agent, so I recommend reading that to help you decide where to stand if you’re undecided.
On another note, I do frequently receive correspondence from new landlords that rave about OpenRent, and often thank me for putting them on the path.
I have recently become a new landlord having inherited a flat. My husband already had a positive experience of using Openrent for his two rentals and couldn’t praise them enough. So I went with them for my letting and the process was entirely seamless. The app walked me through every step and reminded me about all my legal obligations – important when things are forever changing. They even issued the new tenants with the copies of all documents I am legally obliged to give them, without me even having to request it. A thoroughly pleasant experience after a pretty soul destroying long distance reno experience!!
I recommended to a friend looking to re-rent out a house – she had been quoted £750 just to advertise via a high street agent online with Rightmove and Zoopla – didn’t even include finding tenants… with Openrent it was £50 and automatically included in their all-in package!
Just goes to show that the estate agents are making ridiculous mark-ups for doing nothing!
Make of that what you will.
OpenRent’s FREE trial explained
OpenRent’s free trial package is only available by using this exclusive promo link (or any of the other links to OpenRent in this blog post), you won’t find it if you go directly to OpenRent’s website and navigate to the product pages.
- The free trial is for 5 days – their service and everything listed above won’t cost you a penny with in the trial period.
- After the free trial ends, you do NOT have to pay anything unless you wish to continue using their service. For 3 months additional service, it costs £39 for new customers and £49 for returning customers!
- Your vacant property WILL get listed on Rightmove, Zoopla & Gumtree (usually within 24 hours), and believe me when I say that 5 days is generally MORE than enough time to generate a buttload of enquiries… unless you’re trying to shift a piece-of-shit death-trap in the middle of nowhere, that is. But ultimately, you could end up finding tenants without spending a penny during the free trial.
- You’re NOT tied into any contracts, so you won’t be held accountable to pay any fees during the free trial.
- There are NO hidden or extra fees, like extortionate tenancy renewal fees, check-in fees etc!
- You don’t need to enter any credit card or payment details (it’s always sketchy and nerve wracking when free trials require payment details)!
What if I don’t find tenants in 5 days and want to market my property for longer?
Ok, good question.
Of course, there’s a chance you may not find the perfect tenants within the free trial period (actually, to be fair, that would be quite normal), and in that case, you have the option of paying £49 (inc VAT) to extend OpenRent’s service for an extra 3 months. At this point, you will be required to enter your credit card details to make payment.
Is OpenRent the best Online Letting Agent?
There are plenty of reputable OpenRent alternatives to choose from, all offering fantastic tenant-find services, and I don’t think you’ll be disappointed by any of them as long as you understand how online agents fundamentality operate and what they bring to the table.
Being a long-time and avid fan of online agents, I’ve given most of them a spin at least once.
So what I will say is this, if you’re a competent self-managing landlord that’s looking for a reliable, functional and cost-effective “tenant-find” service, and happy to just get on with it, then I don’t think there’s currently a better option than OpenRent.
OpenRent is perfect for self-sufficient landlords that require a service that generate enquiries, and a means of organising the process by the way of an initiative and centralised dashboard. You’ll be pushed to find better value from another agent in the same tier.
However, if you’re looking for an ongoing hand-held experience, which offers telephone support and features you’d expect from a managed service, then I don’t think OpenRent will be best suited for you (least of all because OpenRent don’t offer telephone support). You’d be better served looking at other online agents like LettingAProperty.com. While they do offer a basic tenant-find package, their core focus is on providing more feature rich managed services, and they’re brilliant at it. Their packages include features like monthly rent collection, rent guarantee insurance, emergency maintenance cover etc. For all intents and purposes, they target an entirely different demographic of landlords than OpenRent.
Funny enough, on my LettingAProperty.com review, I advise people not to use their tenant-find service and to opt for OpenRent’s instead, simply because it’s much better value and they do it better.
How are OpenRent able to offer such low prices?
During the extremely rare cases where an unbelievable offer proves to be true and pure, I need to understand why, don’t you? I literally need to, otherwise I’ll forever be looking for trip-wires. The looming concern of being caught out by the small-print would definitely plague my mind.
So to relieve myself from concern, and perhaps yours too, I’ve spoken directly to one of the co-founders to gain a better understanding of what the hell is going on, and how they’re able to make their business model financially viable under the circumstances. Having heard their side, I’m now informed enough to explain it to you, so you can join the dots for yourself.
They’re able to offer FREE trials and the cheapest rates thereafter (to my knowledge), while not compromising on customer service, because of three main reasons…
- 1) In-house technical skills – one of the biggest costs of starting and running any online service/website is developing and maintaining the technical infrastructure. Fortunately, one of the founding-members of OpenRent is a technical genius, so the only real start-up cost of developing the website was his time (which I’m not devaluing, but there was no hard cash required). So straight away a large portion of that cost was eradicated. That said, they have massively evolved since their start-up days, so they do now have a team of technical-monkeys steering the ship, not just one socially inept geek.
From what I know, most online letting agent founders aren’t website developers, they’re letting agents and/or landlords, so they have to take a HUGE hit on development costs.
- 2) Automation – I guess this is an extension of the above factor, and achieved because of the technical abilities they have at their disposal.
While they do have full-time phone support available and real people replying to emails, their system is extremely automated, meaning less human interference is required, which means less employed manpower.
Now, don’t misconstrue that as a negative, because it’s not. All I’m saying is that they have automated their system so well that there’s very little reason for anyone to pick up the phone and ask for support, because their automated system takes care of most of the operational procedures, and keeps landlords fully in the loop with live status updates.
- 3) Upselling other products – they make a large chunk of change from upselling other products beyond their bread and butter “Tenant find service“, such as drawing up contacts, EPC’s and Gas Safety Checks.
To be honest, most other
online agentsbusinesses do the same. They probably wouldn’t survive without the upsells. - 4) Great service – they’re so sure their service is spectacular that they’re confident you’ll return to use their service over and over, only you won’t mind paying their regular fees you’ll be subject to next time. Basically, they’ll profit from repeat business.
That all makes sense.
This sounds like a sales pitch!
Believe me, it’s not.
As said, I’m not here to sell anything, and I don’t hype bullshit.
Most online letting agents approach me with an enticing sales pitch, because they want to be added to my list of online letting agents table. I refuse 98% of them (that’s why my list is very limited), even when they try to twist my arm with financial compensation. Unless I understand, use and/or believe they are providing a valuable service to landlords, I’m not interested. That’s the bottom line.
Try OpenRent for Free (exclusive deal)
Your thoughts…
So, out of genuine curiosity, have you used OpenRent? If so, please provide your feedback below. Similarly, if you’re thinking about using them, or have any questions regarding their service.
Also, please let me know how you get on if you decide to use them.
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.
@Abdul
You've clearly gone in blindly and not even understood the service OpenRent provide. They don't offer a fully managed service for landlords, so why would tenants report "maintenance-type problems to OpenRent"?
Of course, you might be able to find RGI cheaper somewhere else, but so what? That isn't even their core service.
Their core service is to advertise rentals for landlords (that want to manage their own property), and you'll be pushed to find any other online agent that advertises on Rightmove/Zoopla for less.