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Apr, 2017

Thursday

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  1. #1

    Default Quick and easy Question, rent every week?

    Hi Guys, I'm coming up to issue a new tenancy, and I was wondering.... Is there any reason why not to rent weekly as opposed to monthly?
    my thinking is that if there are any problems with payments, I get an early warning if its weekly, where as monthly I can wait the whole month before finding out theres a problem.

    As for evictions and s21's, I believe the standard is a minimum of 8 weeks, that's very similar to 2 months, so is there any real reason why you would not rent on a weekly basis?

  2. #2
    Join Date
    Mar 2009
    Posts
    16,321

    Default

    a) You have to provide a rent book: Even if paid by bank transfer. (Landlord & Tenant Act 1985 s4)
    b) All that ruddy admin

    Your choice, but I prefer monthly rent by bank transfer, simple check online, easy proof for both landlord & tenant that rent has or has not been paid - or not, and records nicely available to HMRC, no arguments.

    If you want warning every week not every month that your tenant ain't paying sounds like you have little faith in your tenant.
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

  3. #3
    Join Date
    Jul 2011
    Posts
    875

    Default

    If you do decide to rent weekly (bearing in mind what Artful said above) do not (for the love of dog) set the fixed term in months.

    Six months is not the same as 26 weeks and may lead to all number of future hassles with rent/leaving dates/notices.

    And DEFINITELY don't go for rent payable 4-weekly, because s8g8 CANNOT apply to 4 weekly rent.

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