signed and dated tenancy agreement but have not recieved deposit and 1st month rent

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    signed and dated tenancy agreement but have not recieved deposit and 1st month rent

    I signed and dated tenancy agreement and gave the potential tenant a copy but have not recieved the deposit and 1st month rent yet. Tenancy to start 01/07/10.
    I am a novice landlord so need advice. Should I have waited to recieve the money or is this okay.
    By the way I have not given the keys yet until I get the moneys, at least I know something! but will giving him the tenancy agreement without him paying anything yet potentially have any implications?
    Your advice is much appreciated.

    #2
    Hi,

    Not sure how the benefit system works in England, however lets assume similar principle.Please check though.Alarm bells are ringing. I suspect this person is using the agreement to obtain moneys, ie. benefits and possibly redirecting the mail.I don't know how money laundering works and whether they would need an address for that.Speak to Citizens Advice,legal helpline if you have one and your local council.The council will be limited to what they can tell you due to Data Protection, however if it was your principal hom and now the council tax is tranferring into their name there will be some record somewhere with the council of the tenant.Hope this helps. I suspect fraud basically, but i may be wrong.

    Good luck

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      #3
      Why did you sign an agreement if they haven’t paid a deposit?

      I usually take a small sum as a deposit to retain the property and give a receipt stating that this money is non-refundable if they dont complete the AST and will be deducted from the 1st months’ rent or from the actual deposit.

      I only sign up the tenancy agreement when they have the deposit and the rent in hand.

      What happens on the 1st when he doesn’t show? You have lost maybe 3 weeks rental, assuming you can let after 3 weeks.


      I had one chap turn up with his missus, they loved the house and would take it, but he needed to speak to his dad about lending him £100 to secure the house! If he can’t get his hands on £100 what hope has he got with the rest of the deposit and the rent paid in advance. Told him to go speak to his dad but be back quick as I had others people coming to view , never saw him again. Next person to turn up liked it – secured it with £200 cash.

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