UK market leader Rightmove has agreed new terms with lettings specialist OpenRent, days after saying the agreement between the two companies would end in September.
In a brief statement to the market, Rightmove said:
Further to the announcement on 6th August, Rightmove announces that OpenRent has entered into a new membership agreement. Our guidance for the year remains as stated at our H1 2024 results.
Rightmove had suggested that memberships would drop as a result of the now-reversed OpenRent termination, but this figure now appears to be obsolete.
The two parties have now decided it would be mutually beneficial to agree to new terms after a month-long standoff that saw OpenRent remove Rightmove from its website as an advertising partner.
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