Getting nervous about new tenants

Mine always pay first and only sign on move-in day. I know that there is some debate about whether this is a breach of the Tenant Fees Act, but a very prominent housing lawyer said it wasn’t, so I’ve accepted his word. By the time they pay they will have agreed a draft of the tenancy agreement and had several other documents from me, including proof of ownership of the property, so there’s rarely been an issue. Only twice have tenants asked to pay in cash on the day and I’ve allowed this.

We’ve had this discussion before you and I, I think.

Would you pay your contractor before carrying out work? No, because there might be terms in the contract you don’t like.

Would you pay for your house (purchase) before completion? No, because it would be stupid.

The same logic applies here. Why do you think OR doesn’t support “money first, contract later” type of thing? Because it’s not how it’s supposed to be done.

I respect your views on many things. But this, we’re never going to see eye-to-eye on.

I used to do rent guarantee before the pandemic. Then they stopped selling it when LLs needed it so that’s me as a customer gone.

Also, the terms of the one’s through OR is not good. Very low coverage with exclusions now, not worth it at all. I risk it instead

Probably because they’re desperate… We shouldn’t prey on the desperate.

My last two tenants paid first thru an agent . we then met at the place and signed and gave the keys. Whatever floats your boat and works for you. I was a contractor for 52 years , many times people offered money before I started work, I never accepted, but did take stage payments. Logic is what you want it to be . Depends who has the “product” that you want. I run another business and only take payment a certain way, works for me so its my way or no way . If you like your way and have no probs that is good I do my way and have no probs . Good . Both Winner winner

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why bother attemping to then?

Absolutely right. Glad you’re not accusing anyone of doing that. Kudos to you.

Per You do have to pay a deposit on a house before completion and at auction

Yes, but the deposit is protected by the solicitor etc.