We manage just the one property but had found local high street agents both expensive AND hopeless. We're about 6yrs into renting our property and OpenRent is our third agent (second online agent) so have some experience of things. We've found OpenRent to be extremely competent and have absolutely no regrets after 2x 12 month tenants (just going into our third now). The idea of a 'distant' relationship does seem daunting initially; but it really isn't, and the savings are significant (no 10%+ monthly fees + vat for a start!). We found that meeting/interviewing prospective tenants was an absolute must in any case (our worst experience of a tenant was one that the high street agent had found/interviewed/checked....and I never want to repeat that experience again.....expensive AND woeful!).
Most of OpenRents costs re up-front - advertising, handling enquiries, referencing, holding deposits, contract etc but the costs are very reasonable. In terms of on-going costs - £10p/mth for rent collection is entirely optional as is the £300 for annual Rent Guarantee Insurance but that's about it. They have a full suite of landlord services (if you don't have your own) for the likes of safety certificates, check-in/out inventories etc etc - all reasonably priced from my experience.
If I were to offer any feedback to OpenRent I think I would suggest some initial 'hand-holding' just to overcome that perceived hurdle of making the switch (especially for new or inexperienced landlords); but if you do feel that way - it is well worth making the effort in our experience and once you've done it I don't think you'll ever go back!
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