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what does 'rent reserved' mean?

JP Source Offline Mute
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03-03-2011,04:41 PM
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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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JP Source Offline Mute
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03-03-2011,04:42 PM
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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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JP Source Offline Mute
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05-03-2011,12:30 AM
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pwill do! watch this space../p
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Rob Hubbard Offline Mute
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05-03-2011,10:13 AM
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It means the amount payable as defined by the tenancy agreement or lease.
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JP Source Offline Mute
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05-03-2011,11:34 AM
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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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Rob Hubbard Offline Mute
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05-03-2011,11:46 AM
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No its the amount payable by tenant
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JP Source Offline Mute
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05-03-2011,11:53 AM
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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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Rob Hubbard Offline Mute
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05-03-2011,11:58 AM
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I believe so
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Mark Alexander Offline Mute
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06-03-2011,10:58 AM
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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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JP Source Offline Mute
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06-03-2011,11:29 AM
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thanks for the help guys
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