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  • Property-a-holics

    what does 'rent reserved' mean?

    pI'm looking at a one bed flat in my area that is going to auction, on rightmove it say's 'rent reserved' £7,800./p
    p /p
    pI've searched google and can't get a simple answer./p
    p /p
    pCan anyone explain please?/p
    p /p
    pRegards/p
    pJason/p
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    pp.s. thats £7,800 per annum/p
    p /p
    pis it that a tenant is set up for another year, and paid money upfront?/p
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    pwill do! watch this space../p
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    It means the amount payable as defined by the tenancy agreement or lease.
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    pSo on top of deposit, you'd have to pay that aswel? I don't get why you'd have to do that?/p
    p /p
    pCheers/p
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    No its the amount payable by tenant
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    so by saying £7,800pa rent reserved, basically means their rent is fixed for the year at that price per annum? (650pcm)
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    That's my take on it too Rob but I do think it's worth Jason getting confirmation from the auctioneer before bidding as it's too late when the hammer has gone down.br/br/citeRob Hubbard said:/cite
    blockquotedivI believe so/div
    /blockquote
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    Regards


    Mark Alexander - Property118.com
    Twitter: @iAmALandlord
    thanks for the help guys
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