when is rent due when paying by BACS transfer?

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    when is rent due when paying by BACS transfer?

    Hi,

    I am looking for some advice on paying rent by BACS transfer. I have always previously paid by BACS on the date that the rent is due, and landlords have been happy with this. However, my current landlord wants me to pay the rent before the due date, in order that it arrives on the date it is due. I am unhappy to do this, as we agreed with the agent (and by extension the landlord) to pay the rent by BACS on the day the rent was due.

    Could anyone offer any advice on how to proceed on this rather specific question?

    Thanks in advance...

    #2
    your rent is due on the date is it is due and therefore it is your responsibility to get it to the landlord on the date it states on your tenancy agreement.

    some tenants set it up so it leaves their account on the due date and other set it up so their LL receive it on the due date. The second option is correct as LL should receive it on the due date.

    Is there an issue with paying it 3 days earlier than normal?

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      #3
      The due date is when the landlord expects to receive the rent.
      If you pay by BACS transfer the money should be credited on the LL's account no later than the due date. So if the transfer takes 2-3 days you should initiate the transfer that much in advance of the due date.

      Most banks now support faster transfers for money paid in. So perhaps your bank does not support faster transfers for money paid out. Time to shop around for another bank.
      Last edited by jjlandlord; 31-01-2011, 19:55 PM. Reason: Poppy35: 1 minute faster than me apparently

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        #4
        I agree with Poppy35 and jjlandlord - your responsibility is to get payment to the landlord by the due date.

        However, you are unlikely to be evicted because you are a few days late each month - although tha landlord could, of course, choose to not renew your current agreement once it expires.

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          #5
          Agreed. Payment date is when landlord should receive cleared funds. Up to T to work out how to get it to them for that date.

          Whilst I would never stress about receiving rent a couple of days late or longer by arrangement, I would be immediately wary of a tenant who made a fuss about the principle of paying me on time. I would consider it unreasonable and pedantic. Best to try and cultivate a good relationship with your landlord in the early days. Little things, like simply paying your rent on time, are generally appreciated.
          Assume I know nothing.

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            #6
            Thanks for the advice.

            Just to clarify, my only problem with changing our arrangement is just that. We agreed the payment method and time in writing, and I think it shows bad faith on the part of the landlord to want to mess around so soon after we've started the contract. Also, I can't imagine the landlord would appreciate me telling them they need to change their bank to receive the money on time!

            Comment


              #7
              Originally posted by tenant1922 View Post
              We agreed the payment method and time in writing
              Perhaps there was a misunderstanding between you and the LL/LA.
              Accepting that rent be paid by BACS on rent due date does not necessarily imply accepting actually receiving the rent on rent due date + 3.

              Originally posted by tenant1922 View Post
              Also, I can't imagine the landlord would appreciate me telling them they need to change their bank to receive the money on time!
              No. You have to send the money on time and using faster transfers may allow you to initiate the transfer on the rent due date with the LL receiving it the same day (and everybody's happy), so you might want to consider a bank that supports that.

              Comment


                #8
                Originally posted by tenant1922 View Post
                Also, I can't imagine the landlord would appreciate me telling them they need to change their bank to receive the money on time!
                It isn't the landlords responsibility to to anything to make sure he gets his rent when the contract says.

                Comment


                  #9
                  Originally posted by tenant1922 View Post
                  Thanks for the advice.

                  Just to clarify, my only problem with changing our arrangement is just that. We agreed the payment method and time in writing, and I think it shows bad faith on the part of the landlord to want to mess around so soon after we've started the contract. Also, I can't imagine the landlord would appreciate me telling them they need to change their bank to receive the money on time!
                  As JJ says - did you agree in writing the day on which you make your payment or did you agree the day that the rent is due?

                  It's a common misunderstanding, I think. Which is why all my contracts carry clarification stating "[Bank transfers can take up to four days – please check with your bank to ensure transfers are sent in time to credit the account by 1st of the month.]" However, there is no duty on the landlord to give this advice and, in fact, it is occasionally not even welcome as tenants find it a little patronising that I assume they do not know how to manage their own cash.

                  At the end of the day, you know that L is not getting his rent on time and it takes only one phone call or internet banking logon to change the date of the payment. In the time that you have taken to "seek out your rights" on here you could have sorted this out and everyone would be happy.
                  Assume I know nothing.

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                    #10
                    Ok, I can see now that the error was mine, in assuming that when the landlord/letting agent set up the standing order they would do so correctly!

                    As an aside, I had hoped to gain some friendly advice on a point I felt was unclear. I think its pretty obvious I didn't receive that, and some people are projecting things just a little too much.

                    Comment


                      #11
                      Originally posted by tenant1922 View Post
                      Ok, I can see now that the error was mine, in assuming that when the landlord/letting agent set up the standing order they would do so correctly!

                      As an aside, I had hoped to gain some friendly advice on a point I felt was unclear. I think its pretty obvious I didn't receive that, and some people are projecting things just a little too much.
                      I can't really see what you are getting at here as you asked for advice and received it.

                      Wherever the problem/error lies with your rent getting to the LL, it is your responsibility to get the payment there on time, you you need to change whatever payment arrangement was made. The LL's bank may not receive payment through the Faster Payment route, thus delaying the money reaching them by up to 3 days. The LL has now requested an adjusmtent to your payment date to accommodate this. If the LL has commitments for your rent money (mortgage payment for instance), they need the cleared funds to be available to cover that.

                      Comment


                        #12
                        Sounds like your issue should be with the agent, not the landlord. If they are any use they should make sure that you are aware of due dates and potential BACS delays (not because they have an obligation to but because it would be sensible and responsible to their client - the L.). Advise both of the misunderstanding, tell them it left you feeling aggrieved and then they can hopefully do better next time. I'm sure L doesn't want any grief either.
                        Assume I know nothing.

                        Comment


                          #13
                          Originally posted by tenant1922 View Post
                          I had hoped to gain some friendly advice on a point I felt was unclear. I think its pretty obvious I didn't receive that, and some people are projecting things just a little too much.
                          I hadn't contributed to this thread earlier as there seemed little value in adding yet another "me too" reply... but come on: just looking back at the thread there's not a single response that is anything other than friendly: the fact is, you've received the collective reponse of this forum but you obviously don't agree with it. The fact is your agent was clearly in the wrong for telling you it was OK for you to pay your rent regularly 3 days (or whatever) late. End of story.

                          'Projecting things'? Don't know what you mean at all.

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