Hullo Kai . If a tenant pays me 6 months upfront on th 1st january. then I write it into the agreement that no more rent is due TILL the 1st july .and then the 1st of every month there after .It can be whatever you and the tenant agree to
Many thanks Colon for your speedy response. Much appreciated! The way you described is the way I thought. However, I also noticed people emphasize the importance of rent to pay since the second month rather than until 6th month later, which is to give a peace of mind to the landlord under the current situation. I want to make sure this approach is legal and will not have any implication at later stage?
well if a tenant pays me 6 months upfront I have peace of mind for 6 months. I personally am happy with that and I have had no problems . I have recently had 3 tenants who voluntarily paid 6 months upfront
Hi Colin3,
Just wonder do you keep the properties all in your personal name or with the company name? Will you consider use the company name to buy the property due to the tax rule changes for buy to let landlords?
everything in my name .I am not bothered about paying tax.I did gaive one great property to one of my girls. As a sole trader I can just give to my kids i dont really get all this company stuff, I have an insulation business in my name and I operate as a builder in my name . I feel happier that way and it keeps me on my toes