Rent book requirements ? weekly , 4 weekly, monthly

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    Rent book requirements ? weekly , 4 weekly, monthly

    I have had same good tenant for 10 years and rent has always been paid on time.

    I have offered him a different property which he wants to take but has asked if he can pay weekly by standing order on new AST.

    I know monthly payments are much easier to handle for me, but tenant is working and paid weekly.

    I am confident payment will be made and in principal I have no objection but I am aware that there are rules regarding rent books.

    I see 3 options for AST , rent due weekly, 4 weekly , monthly.

    WEEKLY
    -------
    It is clear from what I have read that I would need to issue a rent book. Do I then have to visit property every week and mark up the book even though payment is made by standing order, or does it need marking up on demand ?


    4 WEEKLY
    --------
    If the AST states a '4 week' period is a rent book required ?

    If it isn't required, is there a legal problem with tenant making 4 payments by standing order to cover the rent ?


    MONTHLY
    -------
    There is no requirement for rent book.

    Is there a legal problem with tenant making weekly payments by standing order to cover the rent ?

    I realise there will be slight arrears/ surplus over time which will even out in the long term.


    Thanks in advance

    #2
    I your shoes I tell tenant I'd give him a tenancy agreement stating rent payable monthly but (only verbally - nothing in writing..) you'd accept rent payments by S.O. weekly but if he gets into arrears on the weekly deal you'll take action... If he doesn't like it, difficult as a good, regularly-paying tenant is worth trying to hold onto...

    What is required (rent book or no..) is based on what the tenancy says about when the rent is payable - not when it is actually paid.. 4-weekly agreements a bad idea as for those you can't use Section 8 Ground 8 (mandatory eviction for rent arrears...).


    Cheers!
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

    Comment


      #3
      If rent is specified in the contract as being payable weekly, then you're obliged to provide a rent book. AFAIK there is no requirement to write anything in it.

      If rent is specified in the contract as being payable four-weekly or monthly, then you're not obliged to provide a rent book. If the T chooses to pay weekly, it doesn't change the fact that rent will be lawfully due and payable when the contract says it is.

      However, you will create potential problems if you specify that rent is payable four-weekly. The first problem is that you cannot use the mandatory ground 8 to evict via the s.8 route.

      You will create more potential problems if you also specify a fixed term expressed as (calendar) months, because confusion could arise as to the dates of tenancy periods if a periodic tenancy arose following the fixed term.

      For example, if the fixed term was six month commencing 1st January, it'd expire 30th June, and the periodic tenancy would begin on 1st July, with four-weekly tenancy periods commencing on 1st July.

      But more than likely 1st July wouldn't be the first day of a four-weekly rental period, - let's say rent was next due on 13th July - so the tenancy periods wouldn't coincide with the rental periods, and not only is it a pain in the neck having to keep track of tenancy periods/rental periods, but it can cause huge confusion when calculating the date of expiry of a s.21 notice served during a periodic tenancy, as it must expire on the last day of a tenancy period, not a rental period (and some judges don't know the difference).

      Similarly, do not express the fixed term as calendar months if you specify that rent is payable weekly; put "26 weeks commencing [date]", not "six months commencing [date]".

      Keep it simple, either a fixed term of X months with rent payable monthly, or a fixed term of X weeks with rent payable weekly.

      Comment


        #4
        [
        Similarly, do not express the fixed term as calendar months if you specify that rent is payable weekly; put "26 weeks commencing [date]", not "six months commencing [date]".

        .[/QUOTE]

        This is a good point, Westminster. I've got stuck over this in the past. It's often difficult for Ts to understand that they owe a part week at the end of the tenancy, which is how it usually works out.

        Comment


          #5
          Thanks for the helpful replies.

          The points regarding length of tenancy and potential issues with reposession are noted.

          My main concern remains the requirement to have and to update a rent book.

          So, given what has already been said

          Rent payable Weekly
          -------------------

          Rent book is required.
          When does it need to be updated, every week ? periodically ? on demand ?

          Rent payable 4-weekly
          ---------------------
          Is a rent book required ???????

          If tenatnt makes weekly payments when the contract says the rent is payable every 4 weeks, does this change requirement for rent book ?

          Rent payable monthly
          --------------------
          No rent book is required

          If tenant makes weekly payments when the contract says the rent is payable monthly, does this change requirement for rent book ?

          Thanks again

          Comment


            #6
            I've already answered these questions in post #3.

            Comment

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