6 months rent in a lump sum at start of conttract

Hello, I have to take 6 months rent in advance from my new tenant. How do I prepare/write the contract if the amount is over the £12,000 money laundering law?
Thank you.

Why do you have to take this?

Write the contract term as monthly (not as six months ) to be paid on date x of every month
Send a separate email to document that you have received six months upfront and the monies are held in trust until due each month
This way you can serve a s21, if you need to, without a problem

Because referencing and guarantors have failed.

Thank you for this. I appreciate your help.

not a good risk then? Will they be any better as a risk after the 6 months??

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Do you really want to take tenants where referencing has failed.

I had an enquiry today.
I asked if she had references etc etc
The tenant offered £3k per month (instead of £800 ) but did not answer my questions.
I replied if she was not able to answer the questions I had asked I would decline a viewing.
I’ve not had a reply.

It’s not worth it ……

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Now That is not lawful :face_with_peeking_eye:

Having 6 months in advance with a high risk tenant isnt a solution

Mark is right. Having 6 months in advance with a high risk tenant is not a solution.

Close down discussion and walk away from this potential tenant

If referencing and guarantors have failed, then 6 months up front isnt going to help you. What are you going to do at the end of the 6 months if they cant afford the place? Are you aware that it takes about a year to evict a tenant at the moment?

zero point asking for advice here. If you’re willing to do this, you can dig your own grave without our help. Crack on…

6 months in advance for special cases (sometimes there are genuine ones) it doesnt mean it is dodgy (and any of them might be dodgy, as it´s not really lawful, and some have done so out of desperation, usually the tenant asking.
However if someone doubles the rent, no answer to questions and no viewing either (apparently someone told me also that this isn´t allowed either!) , yes wouldn´t do it…
landlord shouldn´t be desperate as it is a favourable golden market for them!

Ref and guarr. have failed and you still want them !!?? Really. Trouble in 6 months time

"6 months rent is not really lawful " Where does the law say that? Not the deposit but the rent.

What isn’t, taking rent in advance? This is in fact
lawful and regularly happens.

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it’s not a legal requirement to view a property before you rent it.

maybe that should make it easier and better for all: viewing and meeting as a legal requirement?
I always insist to meet the landlord and view the property myself…