OpenRent

What OpenRent does

OpenRent Ltd is a private UK online letting agent and rental marketplace, founded in 2012 and registered at 20 Wenlock Road, London. The platform connects private landlords with tenants directly, having processed more than 1.7 million lets and £2.1 billion of rent and deposits cumulatively across an 8.7 million-strong registered user base. OpenRent has self-identified as the UK's largest letting agent by volume since 2015 and operates across England, Wales, and Scotland under relevant local licensing regimes.

Name

OpenRent

Legal name

OpenRent Ltd

Website

https://openrent.co.uk

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Property Advertising: Free basic advertising on OpenRent platform. Optional upgrades: Portal Advertising (£29) for listing on Rightmove, Zoopla and 100+ partner sites; Rightmove add-on (£70). Advertising + Rent Now package (£58 single payment, £108 upfront for both). Revenue from per-property listing fees and portal distribution fees.
2. Tenancy Creation (Rent Now): Full tenancy service including contract drafting, digital signing, deposit registration, and initial rent collection for £79 per tenancy. Includes holding deposit processing, referencing coordination, and ongoing management tools.
3. Tenant Referencing: Comprehensive background checks including credit check, employer reference, previous landlord reference, affordability rating, and right to rent verification for £30 per applicant. Paid by landlords following Tenant Fee Ban legislation.
4. Rent Guarantee Insurance: Legal expenses and rent guarantee insurance covering up to £100,000 for unpaid rent and legal costs for £299 per year (12 months, inc. IPT). Requires successful OpenRent referencing and covers monthly rents up to £3,000.
5. Landlord Services: Additional professional services including Gas Safety Certificates (£55+), EPC (£69), Electrical Safety (EICR/PAT), Inventory (£95+), Check-in (£50), Professional Photography, Accompanied Viewings (£49), Mid-Tenancy Inspections (£80), Legal Support, and Management Plus (£19/month).
6. Rent Collection: Monthly rent collection service with dedicated tenancy bank account, automatic payment tracking, late payment chasing, and real-time dashboard. Funds transferred same working day with no holding period after initial tenancy setup.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

OpenRent operates an online letting agent marketplace that connects private UK landlords with tenants, offering free property advertising and optional paid services across the tenancy lifecycle. Its core commercial offerings include portal advertising (Rightmove, Zoopla, PrimeLocation, 100+ sites), Rent Now tenancy creation (referencing, contracts, deposit registration, rent collection), tenant referencing, Rent Guarantee Insurance, and Management Plus property management. The platform monetizes primarily via per-listing fees, per-tenancy fees, and recurring subscriptions, with no commissions or tenant admin fees.

Product overview

OpenRent is an online letting agent marketplace that functions as a platform connecting private UK landlords with tenants. The core offering combines a free-to-use property listing and search marketplace with optional paid upgrades. The platform is built around two primary service tiers: OpenRent Advertising (free or £29-£58 paid for portal syndication to Rightmove, Zoopla, and 100+ sites) and Rent Now (£79), a comprehensive tenancy creation service covering referencing, contracts, deposits, and rent collection. Additional services are offered as modular add-ons including tenant referencing (£30), Smart Rent Collection, Management Plus (£19/month), Rent Guarantee Insurance (£299/year), safety certificates (Gas CP12 from £55, EPC from £69), inventory services, professional photography, legal support, and insurance products. The platform also offers a Verified Tenant badge (£10) for tenants seeking competitive advantage. The architecture is a platform-plus-modules model where landlords can select individual services à la carte or bundle through Rent Now.

Differentiator

Problem solved

Functional benefit

Brands

• Rent Now: Professional grade tenancy creation service encompassing referencing, contract signing, deposit registration, rent collection and related services.
• Verified Tenant
• Management Plus
• Rent Guarantee Insurance
• Smart Rent Collection

Products and services

• OpenRent Platform Online letting agent marketplace that connects private UK landlords with tenants for property advertising, tenant search, and tenancy management with no tenant admin fees.
• OpenRent Advertising Property advertising service that allows landlords to list properties on OpenRent with free basic listings and optional upgrades to syndicate to Rightmove, Zoopla, PrimeLocation, and 100+ partner sites.
• Rent Now End-to-end tenancy creation service for landlords covering referencing, contract drafting with digital signatures, deposit registration, and initial rent collection, priced at £79 per tenancy.
• Tenant Referencing Comprehensive tenant screening service including Equifax credit checks, affordability ratings, employment and previous landlord references, right-to-rent checks, and fraud detection at £30 per applicant.
• Rent Guarantee Insurance Insurance product covering landlords for up to £100,000 of unpaid rent and legal expenses (including eviction costs) at £299 for 12 months, available after successful OpenRent referencing.
• Smart Rent Collection Monthly rent collection service providing landlords with a dedicated client account, automatic payment tracking, late-payment chasing, and same-working-day fund transfer.
• Management Plus Subscription property management service offering 24/7 emergency cover, phone support, and up to three emergency repairs per year via a vetted contractor network, priced at £19/month inc. IPT.
• Verified Tenant Tenant-paid service (£10) providing an Equifax-based credit check with a shareable financial report and a priority communication badge visible to landlords for 60 days.
• Gas Safety Certificates (CP12) Annual gas safety certification service using a nationwide network of over 1,000 Gas Safe registered engineers to issue CP12 certificates from £55, with optional boiler servicing and additional appliance checks.
• EPC (Energy Performance Certificates) Energy Performance Certificate ordering service legally required before letting property, available from £69 and valid for 10 years.
• Electrical Safety Certificates (EICR & PAT) Electrical safety certification services including Fixed Wiring inspection (EICR) and Portable Appliance Testing (PAT) to ensure electrical fittings and appliances comply with UK safety regulations.
• Inventory & Check-In/Out Services Professional inventory reporting and check-in/check-out services from £95 (plus £50 for check-in), with free DIY inventory templates, designed to protect both landlords and tenants in deposit disputes.
• Professional Photography Professional property photography with post-processing designed to enhance listings and improve tenant enquiry conversion for landlords.
• Accompanied Viewings Service 24/7 accompanied property viewing service at £49, conducted by OpenRent staff on behalf of landlords unable to attend in person.
• Mid-Tenancy Inspection Mid-tenancy property inspection service at £80 to identify maintenance issues early and minimise deposit disputes at the end of a tenancy.
• Landlord Legal & Eviction Support Legal support services for landlords covering eviction proceedings, rent arrears management, and general legal advice, delivered in partnership with Landlord Action.
• Landlord Building & Contents Insurance Buildings and contents insurance product covering landlord property against theft, fire, storm, flood, and other risks, including loss of rent cover and public liability protection.
• Verified Tenant for Tenants Tenant-paid credit verification service at £10 providing a shareable Equifax-based credit report and a priority communication badge to stand out to landlords, valid for 60 days.

Quantifiable outcome

• Landlords typically let properties within 7 days of advertising
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

13 partnerships are on record, tiered core, secondary and minor.

• RightmovecoreChannel Partner/ Reseller/ DistributorRightmove is the UK's largest property portal and OpenRent is a registered agent enabling landlords to list on Rightmove through the platform. Properties advertised with portal upgrade are syndicated to Rightmove, giving landlords access to Rightmove's millions of property searchers.
• ZooplacoreChannel Partner/ Reseller/ DistributorZoopla portal partnership enabling OpenRent landlords to list properties on Zoopla and its network of 100+ partner sites as part of portal advertising packages.
• PrimeLocationsecondaryChannel Partner/ Reseller/ DistributorPrimeLocation portal partnership included in OpenRent's multi-portal advertising packages.
• mydepositscoreTechnology or IntegrationGovernment-backed tenancy deposit protection scheme. OpenRent registers deposits with mydeposits on behalf of landlords using Rent Now service. One of three government-approved deposit protection providers.
• TrueLayercoreTechnology or IntegrationOpenRent uses TrueLayer's payment initiation API for processing rent payments. TrueLayer is authorised by the FCA under Payment Services Regulations 2017 for account information and payment initiation services.
• StripecoreTechnology or IntegrationStripe processes all major UK debit card payments on the OpenRent platform for holding deposits and service purchases. OpenRent does not store financial information on its servers.
• EquifaxcoreTechnology or IntegrationOpenRent uses Equifax for credit checks on tenants and guarantors as part of its referencing service. Equifax provides credit risk scores, CCJ data, affordability assessments, and identity verification.
• Gas Safe Registered EngineerscoreOthersNationwide network of over 1,000 vetted Gas Safe registered engineers for gas safety certificate services. 98.37% of bookings confirmed within 24 hours with 4.7/5 average engineer rating.
• Just Move InminorGTM or Marketing PartnerProvides complimentary home setup concierge service for tenants moving into properties through OpenRent, including council tax, energy, and broadband setup assistance. OpenRent may share tenant contact details unless opted out.
• Propertymark (ARLA Propertymark)coreOthersOpenRent is a member of ARLA Propertymark and subscribes to Propertymark Client Money Protection scheme ensuring landlord and tenant funds are fully protected. Also holds Client Money Protection insurance through Propertymark.
• The Property Ombudsman (TPO)coreOthersOpenRent is a member of The Property Ombudsman scheme and subscribes to the Code of Practice for Letting Agents. Provides independent dispute resolution for customers.
• Landlord ActionminorImplementation/ SI/ Consulting PartnerLegal services partner for eviction, rent arrears, and legal support for landlords using OpenRent's platform.
• Elevate (Insurer)coreOthersUnderwriter for OpenRent's Rent Guarantee Insurance products. Backed by a UK insurer with FSCS protection. Covers rent arrears and legal expenses up to £100,000.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Purplebricks: UK online estate and letting agent offering fixed-fee, self-serve listing and managed services. Most direct comparison to OpenRent, though primarily sales-focused and previously public; now restructured under Strike.
• SpareRoom: UK's largest flatmate and room-share rental marketplace, connecting landlords directly with tenants. Closest direct peer on the tenant search and listing side, with overlapping landlord services.
• Accommodation.co.uk: Online letting platform enabling landlords to list rental properties to tenants with no admin fees. Direct peer in the UK online rental marketplace category.
• LettingaProperty.com: Online letting agent offering fixed-fee landlord packages for tenant find, rent collection, and full management. Closely comparable online-only letting agent model in the UK.
• Strike (formerly Strike plc): UK online and hybrid estate agent resulting from Purplebricks' restructuring under Strike. Direct peer operating a fixed-fee, tech-enabled model with letting services.

Broad incumbents

• Yopa: UK hybrid estate agent combining online self-serve tools with local agents. Broader estate agency offering with overlapping digital letting functionality.
• Rightmove: UK's largest property portal and a distribution partner to OpenRent. Overlaps as both a channel and a potential competitor if it deepens agent services.
• OnTheMarket: UK property portal competing with Rightmove and Zoopla for agent listings. Comparable as a distribution channel and indirect competitor in property search.
• Zoopla: Major UK property portal with house-hunter audience and letting listings. Acts as a distribution partner to OpenRent and a broad incumbent in property search.

Others

• HomeLet: UK tenant referencing and rent guarantee insurance provider serving letting agents. Comparable as an ecosystem participant in landlord risk services that OpenRent also offers.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/openrent
• Facebookfacebook.com/openrent

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OpenRent