12 months rent upfront - what are the implications

Landlord Discussion Legal
1

We have just marketed our property and we have an offer from a tenant who says they want to offer us 12 months rent upfront. Motivation is a CCJ which he says may be over 3 years old but which caused them problems before, but is satisfied now and the fact he thinks he could get a discount, as he did this in previous property. His father will give him the money. Says his father is happy to pay the rent (but this is from savings has no income now).

All of the other tenants who have enquired so far don’t meet affordability or have other issues, so it is attractive. The discount proposed where we were happy to drop to as tested market at higher end of rent. Mind you has only been on open rent for 3 days.

Help! We have let before but haven’t had this situation. What risks are there? Is there a way of writing the AST to reflect this?

2

better safe than sorry, keep looking i would say.

1 Like
3

only 3 days / hang in there

4

I had similar offers in the past and I kindly declined all except one. My concern was this could be delaying a problem by a year! Only time I accepted this ; there was a family moving back to UK from overseas but even then I have asked for guarantor. They were confused why I was asking for guarantor (even agency was puzzled) as they were paying full year but I said that paying full year does not guarantee that everything will be alright after a year later.

3 Likes
5

Hmm exactly what i said: what about next year! They said it was a letting agency told them if they just paid a year up front they could get a property no issues.

6

don’t rush it I’d say