Paying x12 months rent upfront

Hello, has anyone come across tenants from overseas (e.g.hong kong) offering to pay 12 months rent upfront? What if any are the pitfalls of this. Reason is that they are not in the country but coming on an overseas british visa for 5 years and continuing with their existing businesses .

Also had others one with lower incomes suggesting they can also pay x6 months rent upfront.

I had a few contact me from China offering the same. Too much local choice for me to consider them given the complications and extra work and risk.

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What is their business and do you have evidence that its legit and can be continued here? How much savings do they have? Were they renting in HK? Can you contact their landlord there?

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Be very carful when they ask for your bank details to pay upfront money into your account.
Think I would want a face to face when they arrive.

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As someone coming to the UK from overseas myself I can only imagine that them willing to pay upfront to secure the property is an act of sheer desperation because it’s so tough getting any landlord to assist people from overseas :frowning:

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In the circumstances, as long as everything else they have said checks out, I can’t see why taking 12 months’ rent in advance on a 12 month AST is an issue. I’ve taken 6 months before and then another 6 in this type of circumstance where tenant has no UK footprint but checks out otherwise.

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What is the reason for them coming to UK, working or student, hopefully not as “farmers”, that might turn your property into a cannabis farm… :blush:

Can they provide a local guarantor, who may be sponsoring them for their visit / work / study.

I would want a lot of information / background, as they will not pass referencing if not a UK resident with bank account and electoral role registration. However, if they appear genuine, and can financially support their life in UK, I would suggest a 12 months advance rental agreement could be as secure as most tenancies.
Issue a S21 as a matter of protocol, with the requisite 2 months notice to terminate their contract on the due date. Then reassess the situation, when the time comes.

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Hi Chris,

I was just thinking of writing about the dangers of cannabis farmers, I see you beat me to it.

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