Advice on new tenancy

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Snorkerz
    replied
    Have you seen these 'Cant Pay, We'll take it away' programmes? Funny how people say they can't pay but suddenly find a way once their BMW is clamped! Maybe your tenant will miraculously find a guarantor once their new home is at risk.

    As your proposed tenant has a 'good' salary, you might be prepared to defer 20% of their rent for x months (reviewable) with the balance to be paid off over the balance of the fixed term. I'd suggest an initial 3 month deal as the situation will be very different (clearer?) by then.

    However, I would warn them (in advance) that if they want to do this, with each deferral, they will get a section 8 notice and, should they default on re-paying when the time comes then you will be in a position to recover your property.

    Leave a comment:


  • AnnaJJJ
    replied

    Thanks for all your responses.

    I have checked this morning and unfortunately they don't have a guarantor, and they don't have enough money to pay more than one months deposit plus the first months rent up front.

    Currently the tenant hasn't been laid off, but has just been advised that if things get worse it could be a possibility. The employed tenant has a good salary compared to the rent, so if they were laid off with the government furlough agreement I should expect a minimum 80% of rent from them right?

    Equally am I liable if I return their holding deposit as they have given notice on their current home and have nowhere to go?

    If I can get 80% rent until things improve then at least I can pay the flat service charges and my basic running costs. If I reject them I could get nothing for many months but still have these outgoings.


    Any further advice appreciated. Thank you!

    Leave a comment:


  • jpkeates
    replied
    You can ask for the rent to be paid in advance, but it has to be the rent, not an extra deposit.
    So you can't ask for six months payment and then demand a rent payment in month 2.

    Theoretically the five month's deposit paid in advance meets the definition of a tenancy deposit, but it's a conventional commercial practice.

    Leave a comment:


  • nbhamilt
    replied
    Originally posted by ash72 View Post
    If you don't want or need the money take them on, as it's most likely they will stop paying you the rent. You could ask for a 6 month advanced payment on the rent upfront, or alternatively hand back the deposit and keep the property vacant until the crisis is over.
    Are you allowed to charge 6 months rent up front? doesn't that come under additional fees thing over and above 5 week deposit and 1 month rent?

    Leave a comment:


  • jpkeates
    replied
    They shouldn't be moving in now anyway.
    I'd return the deposit rather than renting to someone who can't afford to pay the rent.

    Leave a comment:


  • boletus
    replied
    Home owning guarantors (plural)?

    Leave a comment:


  • ash72
    replied
    If you don't want or need the money take them on, as it's most likely they will stop paying you the rent. You could ask for a 6 month advanced payment on the rent upfront, or alternatively hand back the deposit and keep the property vacant until the crisis is over.

    Leave a comment:


  • AnnaJJJ
    started a topic Advice on new tenancy

    Advice on new tenancy

    I am just about to rent a flat to a family. The tenants have paid a holding deposit but we've not yet signed contracts. After paying the holding deposit the tenants have now advised that they may be laid off with the 80% furlough agreement. There is only one salary in the family. They've approached me to ask if I can be flexible regarding a reduction in payment should this occur. Being a new landlady I am unsure what to make of this. Any advice welcomed and appreciated.

Latest Activity

Collapse

  • Reply to Refurbishments / Unhappy Tenant
    by Jon66
    I can't believe this is plastic. You can't play on a plastic washboard ­čĄö...
    28-01-2021, 01:18 AM
  • Refurbishments / Unhappy Tenant
    by london91
    Hello,

    We live in a two bedroom property in London. I moved in early next year and my housemate moved in shortly after. The landlord said the kitchen would be updated by September, however due to the pandemic and financial reasons, she pushed it back to January 2021. The kitchen and bathroom...
    27-01-2021, 19:38 PM
  • Any complications caused from leaseholder refurbishing communal parts
    by leaseholder56
    We are one of 2 leaseholders, converting an office building into 3 flats. The freeholder and other leaseholder, have agreed for us to refurbish the communal parts. We are aware of all the required building & fire regulations. Until now, we've simply split the cost between us, the leaseholders....
    27-01-2021, 23:22 PM
  • Reply to Refurbishments / Unhappy Tenant
    by JK0
    Did you notice that is in the 'musical instruments' section of Amazon, Nukecad?

    Maybe o/p can learn to play it while his Mrs is at the launderette. ...
    27-01-2021, 22:50 PM
  • Reply to Refurbishments / Unhappy Tenant
    by ash72
    Unfortunately, you were told when the works would start and that anyone would know that there would be disruption with noise and dust when the works are being carried out. You just need to live with it until it is finished and then enjoy the new kitchen in peace and quiet.

    There is no harm...
    27-01-2021, 22:50 PM
  • Reply to Total Nightmare
    by ash72
    Any company that thinks they can get them out is fooling you, and just taking your money. Due to the lack of knowledge and experience, the law is on the T's side in this case. I hope you have protected any deposit, EPC, etc, otherwise you may be ending up paying them money in compensation.
    ...
    27-01-2021, 22:42 PM
  • Total Nightmare
    by HLGGG
    This is my partner's property so am writing on his behalf.

    He rented his house to a friend.. did not get a tenancy agreement signed..I know,, I know

    Then his friend left leaving the house to his gf and small child. We attempted a section 21 but the company were awful and it...
    27-01-2021, 15:22 PM
  • Reply to Buying the Freehold
    by ash72
    Being the freeholder of a small block may not be for you, there's are guidelines and procedures you need to follow, for example when the ground rent or service charge is payable. The insurance of the building, what to do when of the flat's doesn't pay. Annual accounts, the list is endless based on your...
    27-01-2021, 22:37 PM
  • Buying the Freehold
    by Kellyd
    Hello. Apologies if this is the wrong forum. I am utterly confused as to where to post this.
    I own a flat, which I rent out. I have owned it for almost a year.
    It's a top floor flat in a building with approx 4 other flats.
    I have a 125 year lease.

    I've been sent a letter...
    27-01-2021, 12:39 PM
  • Reply to Tenancy Deposit Dispute - what are my rights please?
    by ash72
    Go through the adjudication process of the TDS, with the evidence, the LL can have any figure they want but it would be for your agree or disagree with, if you disagree then it's moved to claims handler at TDS who will ultimately have finally say and verdict. If you have and documentations that says...
    27-01-2021, 22:30 PM
Working...
X