Split Rent between two sets of tenants

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

    Split Rent between two sets of tenants

    Hello All,

    I let to students. The students rent for AST 12 months from July to June the following year.

    My current tenants (minus 1 of the 4) would like to stay on for a couple of more months, so I am offering them to pay half of the rent and ask the incoming students to pay the other half. thus doing them a favour.

    What are the implications? How would I draw up a contract to do this.

    Any tips?

    Thanks

    #2
    I don't think you can if new Ts have accepted your offer of a T from 1 July,as they have a right to exclusive possession to demised accom. Seperate ASTs should not overlap. Best if current Ts vacate end of June & find alt temp accom.

    Comment


      #3
      This is an interesting one, could you possibility charge a retainer to the incoming students equal to half rent rather than start the agreement early?

      Relatively simple with your outgoing Tenants but make sure it's all in writing and ensure you serve the correct notices to ensure they leave before your new T is due to move in.

      Comment


        #4
        Please clarify, do you rent the rooms individually, or the whole property on one agreement?

        Comment


          #5
          Dan_Manchester thanks for replying back - your retainer reply is the one I am going to attempt to do. I thought I had replied to the forum but looks like it never posted. The reason is the incoming T's asked if there any leeway on the rent. So we came up with this idea. It'll be a win-win situation for all. Question: say the current T's accept my offer? to stay for July and August, when should I serve notice on them?

          Snorkez the house is let as whole they're all jointly liable.

          Comment


            #6
            If the house is let jointly, then you can not let the whole house to 2 sets of people at the same time!

            The original tenancy does not end until you have empty possession, and you can not let the property if it is already let to someone else.

            What you could do is see if the new tenants would like a 'lodger' for the first month or so which would make the rent easier for them to afford!

            There is also the issue of too many bodies in a HMO - would the increased numbers mean you need a HMO license?

            You can not remove you current tenants involuntarily without a court order.

            Comment


              #7
              I do not think it need be that complicated.

              What is clear is that you cannot charge two lots of tenants rent for the same period.if the current ones want to live in the house over the summer, then why should they get it at half rent? Just charge them the full rent. If only 3 of them want to stay, they'll either have to find a fourth or stump up the extra rent themselves. Why should the new lot pay any rent over the summer when they aren't living there?

              If the new lot have already signed a contract, there is technically no need to charge them a retainer, as they are contracted to move in and create a tenancy anyway. So...

              You get the new lot of tenants to sign a new contract which runs from September to the following July. You then either grant the current lot a new tenancy which runs from now until the end of August (or whenever they want to leave), or grant them a new short AST for however long they want it, from July 1st.

              (I would suggest letting current tenancy become periodic and serving notice on the last day of their current fixed term to expire on the last day of August, but I think that weird rule about not being able to serve notice before a tenancy's begun kicks in...which would mean you couldn't give them two full months' notice...or could you?)
              'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

              Comment

              Latest Activity

              Collapse

              Working...
              X