ive had a tenant offer a 12 month up front payment from their savings to secure them getting the flat - Id like to accept this for security (especially as the other tenant is a higher risk according to his credit check)
Ive read on open rent they can only accept £12,000 pre-payment which wouldn’t be enough to cover the full year - how can I receive the full year rental payment?
Thank you in advance!
Hi Jules - we have a help centre article on this very question:
Apologies it’s not more streamlined, but hopefully using a custom clause is workable for you.
Thanks, Daz.
so does that mean I cant accept a payment of more than £12,000 if ive rented the property via open rent? thanks
As per the article:
For the small number of tenancies that are affected, landlords are free to add custom clauses to the Tenancy Agreement and ask tenants to pay any additional rent in advance to them directly if required.
You can read more about custom clauses more generally here:
Are you sure this tenant is a good risk? Can yhey afford the rent at the end of the 12 months?
You need to be careful that you dont create a tenancy with a 12 month period or you will have a big problem if it ever comes to serving notice.
yes that was my concern! i do have insurance if they cant pay after the 12 month period - but still a worry! thanks for your feedback
I would never agree to accept even 6 months rent in advance. I want regular payments from someone who I know meets the affordability requirements.
Ive acheived this by going with OR. one month plus deposit via OR and another payment of the 11 months. All by mutal agreement and of course in advance. My tenant is still in after 5 years.
Thanks for that! Very helpful and great to know that all worked out well!
Hello 
I am in a similar situation and was wondering what you did with the 6 months break clause in that case as paying one year in advance seems to annul it. Or did you not bother with that aspect of the contract at all.
Thank you so much
I am new to this and would kindly appreciate some help.
Thank you all so much in advance
Andj
See my reply on this thread: Periodic or New AST - #6 by Sharad
I never considered it and neith did my tenant
Hi I actually decided to go with different tenants as the ones offering 12 months up front failed their credit checks (one of the reasons they were offering 12 months!) - so have gone with a safer option which will mean less cash in the bank but it felt like a more sensible option!
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