Six Months Rent Up Front | Discuss

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Six Months Rent Up Front
04/04/2017
7:49 pm
pb1967
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Hello everyone

 

I have been to view a property this evening let by Oulsnum Estate Agents.  I have been told you can no longer pay six months rent up front and havn’t been able to for the last two years.

 

Please can someone clarify 

 

thank you

Paula.Frown

19/04/2017
1:11 pm
Kenn
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Hi Paula

Sorry for the delay in a reply to your post. 

6 months rental payments upfront does depend if the landlord or agent is happy to accept them. The argument may be what is a rent payment and what is a deposit as deposits have to be protected and cannot be called upon as rent.

I have heard of individuals changing the payment terms to reflect this so instead of rental payment due per month they are due 6 monthly and therefore accept two payments per year for the rental. This way making it clear in their paperwork it is a rental payment and not a deposit. 

Hopefully someone else will jump on this thread with their views. 

20/04/2017
7:19 pm
alastair
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There is nothing in law to prevent a payment of six months’ rent in advance, it is a matter of contract. But that is not a deposit -which is wholly different, is subject to specified provisions and registrable by law. Personally speaking I would be concerned as to why such a payment was proposed, it being out of the ordinary. I understand that such payments are offered by those with less than sound financial records, persons being paid cash in hand or for whom the production of business accounts is a difficulty. Best regards, Alastair.

18/07/2017
9:15 pm
Owen
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Agreed, in order for it not to be confused with some kind of deposit the period of the tenancy should be 6 months – so as early poster says tenancy should say rent is due every 6 months.

10/08/2017
10:15 am
Amy
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Kenn said
Hi Paula

Sorry for the delay in a reply to your post. 

6 months rental payments upfront does depend if the landlord or agent is happy to accept them. The argument may be what is a rent payment and what is a deposit as deposits have to be protected and cannot be called upon as rent.

I have heard of individuals changing the payment terms to reflect this so instead of rental payment due per month they are due 6 monthly and therefore accept two payments per year for the rental. This way making it clear in their paperwork it is a rental payment and not a deposit. 

Hopefully someone else will jump on this thread with their views.   

I have had time to start reading past threads. I have in the past, taken six months up front and protected the deposit and have found the tenants to be good tenants . I stopped taking them in 2013 because the law confused me.   It seemed that if a deposit was protected this judge still claims that rent can be called a deposit. This turns into a very very large deposit that the landlord hadn’t protected  and as a consequence had not received any rent .  Oh -what a can of worms. I am sure since then the law has been clarified at great cost to whatever landlord was involved . I still don’t take six months up front,  i am a busy landlady  and do not want to get embroiled 

http://www.landlordlawblog.co……ays-judge/

10/03/2018
10:24 am
Amy
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Owen said
Agreed, in order for it not to be confused with some kind of deposit the period of the tenancy should be 6 months – so as early poster says tenancy should say rent is due every 6 months.  

Owen . Just catching up on my reading also. I haven’t  taken six months up front -but its correct if i put on the contract that the rent is due in six months.

I use NLA automated contracts and will try a tester . 

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