Hi, I am due to sign a tenancy agreement later in the week to rent out a property. As I am a student, the lettings agent asked for the rent for the fixed term period (in this case 6 months) to be paid in advance. I have no issues doing this, but I have a few questions about how I can best act to secure my money. The amount I'm paying upfront is quite large (£9k), and I've been looking stuff up, but I could do with some opinions.
Should I attempt to get the agent to change the AST to include a clause stating that any rent paid in advance should be returned? I've read that in the case of a surrender of the property, any rent paid in advance would not be returnable. I realise this may be the case if I were to surrender the property, but what if the landlord were to surrender it? Or if a section 8 was brought against myself if the landlord went into arrears on the mortgage? Would this still hold true?
I've attempted to cover my back by asking the agents if they wouldn't mind asking the landlord to inform me about whether he was on a mortgage or not, but they point blank refused to even ask him, telling me it was none of my business.
Any advice people could give me about how to safeguard my money would be appreciated. I'm aware that financially, things may get ropey for all in the future, and I wish to minimize any risk I take.