Tenancy starting last day of month - 31st

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    Tenancy starting last day of month - 31st

    I was just filling out a new AST for new tenants moving in on 31st July.

    The agreement says ' the rent must be paid by direct debit on -- of the month. Since 31 only appears on the calendar 7 times in a year how do the banks know to pay on 30th or 28/29th in case of February?

    To get around this and get the AST in the post I have put 'last day' of the month to be techinically correct. In 20 years of letting I have never come this one before.

    Freedom at the point of zero............

    Its easier to make the SO for the first of every month....... you can charge the tenant pro-rata for the single day to set the tenancy straight with payment


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