Frequently Asked Questions
All of your questions, answered.
Opndoor is a rent guarantor service that ensures tenants can secure their ideal rental property without needing large upfront payments or having a traditional guarantor. We assure landlords of reliable rent payments, fostering a smooth and worry-free rental experience for both parties.
A guarantor agrees to pay the rent on behalf of a tenant if the tenant cannot do so. At Opndoor, we act as your guarantor, offering landlords the confidence that rent will be paid on time while helping tenants secure their desired rental property.
Many landlords require tenants to have a guarantor to minimise the risk of unpaid rent. If you don’t have a family member or friend who can act as your guarantor, Opndoor can provide this service, making it easier to secure your rental home.
Our rental guarantor service fee is equivalent to one month’s rent. This fee ensures that you have Opndoor’s backing, providing you and your landlord with financial security and peace of mind throughout your tenancy.
Yes, there is an application fee of £20 to apply for our guarantor service. This fee covers processing your application and performing the necessary checks.
You can expect most decisions instantly. In some cases, additional information or verification may be required, which could extend the process to within 24 to 48 hours.
No, you are still responsible for paying your rent on time. If you stop paying rent, Opndoor will cover the payments initially, but you must reimburse us. Failure to do so may result in legal action and affect your credit score.
As part of our vetting process, we will run a credit check to assess your financial reliability. This helps us ensure that we can confidently provide a guarantee to your landlord.
If you have roommates, each person can apply for our guarantor service individually. We can provide guarantees for each tenant, ensuring the landlord that the entire rent amount is covered.
If you are approved but do not use our service (for instance, if you decide not to rent the property), you may be eligible for a refund. Please contact our support team for specific refund policies and assistance.
Yes, Opndoor welcomes international travellers, ex-pats, and international students. We understand the unique challenges non-residents face and work to provide a fair and accessible guarantor service for everyone.
To process your application, we typically require proof of identity (such as a passport or driver’s license), proof of income (such as pay slips or a job offer letter), and a reference from a previous landlord, if applicable. Additional documents may be requested based on your circumstances.
While many landlords accept Opndoor as a guarantor, it’s always best to check with your prospective landlord or letting agent to ensure they are comfortable with our service.
You can pay the guarantor service fee securely through our online portal using a debit or credit card. Once your application is approved, further instructions will be provided.
The maximum amount we can guarantee varies depending on individual circumstances and the specific property. We will inform you of your guarantee limit during the application process based on our assessment.
Opndoor is a tenant’s rent guarantor, ensuring landlords receive reliable rent payments. We vet tenants, provide a financial guarantee for their rent, and cover any missed payments, reducing the financial risk for landlords and property managers.
Opndoor is ideal for landlords and property managers who want to minimise the risk of rent defaults and tenants who need a guarantor to secure their rental property.
Typically, the tenant pays for Opndoor’s guarantor service. However, the arrangement can vary depending on the agreement between the landlord and the tenant.
To use Opndoor, refer your tenants to our service for their guarantor needs. Once the tenant is approved, we’ll handle the rest, including providing you with the necessary documentation and guarantees.
The cost for tenants to use Opndoor’s guarantor service is typically one month’s rent. There are no additional costs for landlords to use our service.
Financial Security: Guaranteed rent payments on behalf of the tenant.
Reduced Risk: Lower risk of rent defaults.
Simplified Process: Streamlined tenant vetting and documentation.
Increased Tenant Pool: Ability to accept a broader range of tenants.
Opndoor will act as a guarantor for the tenant’s lease agreement for a maximum of 12 months. If the lease is renewed, the guarantor service can be renewed accordingly.
You can expect most tenants to be approved instantly. In some cases, additional information or verification may be required, which could extend the process to within 24 to 48 hours.
Opndoor covers rent payments that the tenant fails to pay. This includes missed monthly payments up to the guaranteed amount specified in the lease agreement.
The Opndoor partner portal is an online platform where landlords and property managers can manage their interactions with Opndoor. This includes submitting claims, tracking payment statuses, and accessing tenant guarantee documents.
Landlords and property managers can sign up for the partner portal by visiting the Opndoor website and registering for an account. Once registered, you can access all the features and tools needed to manage your properties efficiently with Opndoor’s support.
Opndoor is a tenant’s rent guarantor, ensuring landlords receive reliable rent payments. We vet tenants, provide a financial guarantee for their rent, and cover any missed payments, reducing the financial risk for landlords and making it easier for tenants to secure rental properties.
Opndoor is beneficial for tenants who need a guarantor to secure a rental property and for estate agents looking to provide added value to their clients by offering a solution that ensures reliable rent payments.
Typically, the tenant pays for Opndoor’s guarantor service. However, the arrangement can vary depending on the agreement between the tenant, landlord, and estate agent.
The cost for tenants to use Opndoor’s guarantor service is equivalent to one month’s rent. This fee provides the financial guarantee needed to secure the rental property.
Opndoor acts as a guarantor for the tenant’s lease agreement for a maximum of 12 months. If the lease is renewed, the guarantor service can be renewed accordingly.
You can expect most tenants to be approved instantly. In some cases, additional information or verification may be required, which could extend the process to within 24 to 48 hours.
The Opndoor partner portal is an online platform where estate agents can manage their interactions with Opndoor. This includes tracking tenant applications, submitting claims, and accessing tenant guarantee documents.
Estate agents can sign up for the partner portal by visiting the Opndoor website and registering an account. Once registered, you will have access to all the features and tools needed to manage tenant guarantees efficiently with Opndoor’s support.
Opndoor covers rent payments up to the guaranteed amount specified in the lease agreement. This ensures landlords receive their rent even if the tenant cannot pay.
Opndoor’s service does not cover the tenant’s security deposit.