X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Property-a-holics

    6 month rent up front - what notice applies?

    Hi There, I have tried to do some research but am finding conflicting evidence. I have a tenant wanting to pay 6 months rent upfront, which I am fine with. It will be a 6 month term initially, however, if they pay the full 6 months, would that not mean I have to give 6 months notice to quit if I need to?

    Or can I write in a special clause that it was agreed 6 months rent would be paid up front.

    Another option I have heard is they pay 5 months, then pay the 6th month on the last rent due date.

    Can anyone help please?

    0
    0
    Avoiding the issue you ask about (and avoiding the need to treat the advance as a deposit) is easy - just use the approved wording from whoever supplies your AST.

    Have you satisfied yourself this is not a criminal front? There are few legitimate reasons why a renter would deprive themselves of a wodge of cash in advance - what is their legitiamte motivation to do so? Have they been properly ID'd and referenced and checked for CCJs?

    On the other hand, its often a way to try and keep noses out while the property is sublet, used for working girls, cannabis, to house "other who purport to be family members" with no "right to rent" etc.

    Remember you can't even serve notice to start the eviction process until after month 4 and then have several months for the S21/hearing/bailiff if they resist - certainly well past month 6.
    1
    0
    Even more important than CCJs and other considerations, make sure you get fully behind who is paying you and where the money comes from - it could be a money laundering trick (and penalties for getting involved in this are very severe). Google "money laundering checks" and you'll find some good resources.
    1
    0
    The above is a general comment and is not intended as legal or professional advice; you should not take any action in reliance thereon without obtaining advice specifically tailored to your circumstances from your own solicitor or other professional advisor(s).
    Leaving aside the money laundering issues the question you ask relates to the correct length of an s21 notice. This is no longer an issue after the Court of Appeal decision in Spencer v Taylor.
    0
    0
    David Smith
    Landlord & Tenant Solicitor
    Anthony Gold Solicitors

    Find me on LinkedIn: uk.linkedin.com/in/dsnsmith

    All opinions are my own and do not reflect those of my firm. No comment made should be taken as legal advice and you should consult a solicitor or other legal professional for advice on your specific situation.

    Whenever I have been offered this it's because the tenant knows they will fail the standard affordability/credit checks.

    The only time I accept rent in advance for more than one month is from overseas students who are unable to provide guarantors.

    I would be very wary if I was you.

    0
    0

    Smells fishy, moreover cannabis-like. (Actually, if cannabis gets legalised this side of the pond anytime soon perhaps we can revitalise our btl woes (impact of sect 24, 21 etc.) with prosperous money making factories!!)

    0
    0