Hello, some advice needed please.
I have signed an agreement (contract) with a potential Landlord yesterday.
Today they have asked me to pay 6 months payment in advance which was agreed after viewing the property as I don’t have a Guarantor. That’s not the problem.
They have asked me to pay the money and they would complete referencing checks after that.
The problem started when I asked a simple question about what would happen with my 6 month payment IF the referencing checks would fail? They have been avoiding answering my question saying I have signed the agreement (yeah, but just yesterday!)
All I want is some assurance my money would be returned to me IF worst happens. My intention is to move to the new property.
I do believe my references would be great and my credit score is good. However I’m unsure if the affordability check would fail my referencing. This has been brought to their attention when I viewed the place.
I just hope they won’t be threatening me with legal action just because the agreement has been signed when I’m not feeling comfortable at the moment to be paying 6 months upfront IF they cannot assure my money to be safe.
Many thanks to all for your time and advice.
Inga1
This is highly unusual way of doing things. Landlords would normally take a holding deposit of 1 weeks rent before referencing. Under certain circumstances this money could be retained by the landlord if you failed referencing. Are you doing this outside of Open rent if so if I were you I would back out.
Paying them directly. There’s no deposit as I’m paying 6 months upfront.
Can they threaten me with legal action? (not afraid of this - I have my reasons)
The move in date is in 4 weeks.
paying 6 months upfront and move in in 4 weeks . Rubbish > 6 months payment and then they do a reference? Do not do it . It smells .
Bad bad bad idea. Referencing first (which landlord pays for) then payment of any rent due. Never the other way round.
more security to find a landlord thru openrent and follow their
routine and advice
Once youve signed a contract and paid the rent, they are obliged to give you the keys, so why are they bothering to reference you afterwards? This has all the hallmarks of a scam. I suggest you walk away
Only ever pay 1 weeks rent as a holding deposit until checks have been satisfied.
Have you viewed property in person?
How confident are you that this is legitimate?
Where was it advertised originally?
The only thing that makes me think it may still be legit (and a clueless landlord) is the fact that could easily have said that you have passed referencing and then taken your “advanced rent”.
Hi Mark,
I have viewed this property and seen and spoken to the tenants.
It was advertised here(OpenRent). They said no deposit needed as I’m paying 6 months upfront. But now what made me suspicious that they still have to do the affordability check although I told them my income and me being on UC.
Also the lack of responses to my specific question about the money makes me worried.
Do I have few days to change my mind after signing the agreement ?
You say you have signed the tenancy agreement, but has landlord actually signed it and do you have a copy?
An actual valid tenancy would require the landlord to surrender it in order to void it, there’s no “cooling off” period.
Once you give the rent then landlord is obligated to give you the property and is contract bound.
This just doesn’t make sense, definitely do not pay the advance.
Would be worth speaking with openrent who may have a history of this landlord.
See my post above and ask them why theyre doing this back to front.