Hi there. I am asking for 6 month’s rent in advance which is what has been agreed with my new tenants. I know that this will be reflected in the Contract. My question is this: Do I receive all 6 months rental up front, once the funds have cleared, or does OR release to me every month for 6 months?
Although I am not answering the above post I would like some feed back on the following. I have a new tenant through an agent who has been exceptionally efficient in the past. The tenant gave 6 months rent in advance I would like to know if this negated the usual credit checks and income and employer checks?
You must clarify this with agent, only they can confirm
It might well be. Some agencies are
shortsighted. Only you can protect your business. I had a tenant who paid whole year but I still insisted on guarantor. Agency didn’t understand why. I said, if they do not start paying after a year who will cover? I would ask them immediately.
Thank you both. I am seeing the agent today.