12 months rent in advance- what type of tenancy agreement should I proceed with?

12 months rent in advance- what type of tenancy agreement should I proceed with?

Hi all,

I’m considering offering a tenancy agreement to two prospective candidates. Unfortunately, their referencing was declined by Rentguard. This was predominantly due to one candidate receiving Universal Credit. Other than that, they have referenced impeccably with no CCJ’s, poor credit history, good landlord references etc. They have offered to pay 12 months rent in advance.

This being the case, would a standard short hold tenancy agreement be sufficient to use or should I be aware of anything else that could potentially trip me up?

Your advice and input would be most gratefully received.

Thanks in anticipation of your kind attention and consideration with my query.

When you write the contract the rent is paid in advance monthly
Do not take it as a complete term
If you decide on twelve months rent upfront take 11 months and one month
If you need to serve a s21 you will not get caught out in the notice period ( twice the rental period )

Thanks so much for your advice. Would you or anyone else happen to have an agreement for this scenario? Thanks again.

So I would use a 12 month AST and towards the end of the tenancy review how to proceed.

Question is how does a person on universal credit get hold of 12 months’ rent?

It’s such a shame Openrent removed the option of an AST being terminated automatically at the end of the term instead of becoming periodic. I would’ve used that in this instance and any lease really.

I would caution against giving a 12 month contract to a new tenant that you don’t know. Most landlords I know just give 6 months initial term znd then let it go periodic.

If they’re happy to pay 12 months I’d take 12 months.

I’d have to go through exactly the same process evicting at the end of the 6 months as I would in the AST. And I’d have exactly the same standing evicting at 5 months as 7 months or 9 months.

Only difference is I am sure to have 12 months rent.

There would be a break clause obv.