View Full Version : Rent for whole term paid in advance
26-10-2009, 15:10 PM
Someone has asked me if I will allow them to take a tenancy on my rental property. He says he has a poor credit rating but has a lump sum from redundancy and would therefore like to sign an AST for six months and pay the rent for the whole term in one transaction at the beginning. Would such an arrangement work in all respects the same as if rent were payable monthly or are any rules for things like notice and possession affected?
26-10-2009, 17:02 PM
Bad idea! Do an LZ search re 'Drug factories' to learn why.
26-10-2009, 20:46 PM
Very nice of this person to admit they have a poor credit rating.
You should still exercise due diligence and obtain references and a credit check. At that point decide whether to accept this person as your tenant. Are you going to accept a tenant that has been sued for failure to pay rent? If you decide to accept, my suggestion is to specify a monthly rent – if the tenant happens to pay a great deal of rent in one go, that’s their choice.
Diverting prospective landlords from referencing and greasing palms with large advanced rent is a classic tactic of a cannabis farmer. :eek:
Don't be in a hurry to make a mistake.
26-10-2009, 20:55 PM
The reference from the current Landlord is of interest..
The reference from the previous Landlord is usually of even more interest.. (he does not need to give a good reference to get rid of the punter...)
26-10-2009, 21:08 PM
Someone has asked me if I will allow them to take a tenancy on my rental property. He says he has a poor credit rating but has a lump sum from redundancy and would therefore like to sign an AST for six months and pay the rent for the whole term in one transaction at the beginning.
As Poppy says, it sounds like a tactic to divert you from carrying out full credit/reference checks.
And remember that after the six months are up, T won't necessarily leave. And if T decides to stay put and not pay any more rent, you'll have to go through eviction procedure to get rid of him.
In the unlikely event that you decide it's a good idea to proceed, then also make sure you have photo ID such as passport checked out so you're sure he is who he says he is.
Powered by vBulletin® Version 4.2.2 Copyright © 2014 vBulletin Solutions, Inc. All rights reserved.