Tenant not paid deposit or rent

My tenants signed the contract a week ago. They will not answer e-mails from myself or OpenRent. The first month’s rent and the deposit remain unpaid.
Open Rent have told me I must wait until moving in day (14th August) and then they will give them 96 hours to pay before cancelling the agreement and I must make every effort to make this tenancy work!
Open Rent’s tenancy agreement states the monies are due on the signing of the agreement and that the agreement is not binding on the landlord until the tenant has paid.
I want to cancel as the tenant is in breach of the agreement and I have lost confidence in them.
My previous tenants left on 31st July (having bought their own home).
Can any one advise?
Many Thanks

You would have to reach an agreement with the prospective tenants to cancel, otherwise you would be in breach of contract.

I think the OR tenancy agreement allows you to charge interest on late payment of rent. You should make you (potential) tenant aware of this in writing.

Thank you for the replies.
I am confused as to what is meant by the statement “This agreement shall not become binding on the Landlord until the Tenant has paid the first payment of Rent and the Cash Deposit or Deposit Replacement (as applicable)” if it does not mean what it appears to mean - that the Landlord is not bound by it if no rent and deposit has been received.

Have a look at the LandlordZone forum as they are discussing this issue (I think in response to your post).

Whatever you do make sure these people don’t move in!

Seems like a problem tenant. What not to say they will pay the following months rent - Avoid this tenant

Sorry, my post should have said that you “could” rather than “would” be in breach of contract. You dont have a contract at the moment, but if the applicants dont agree to cancel proceedings and you go ahead and let to someone else, they could sign and pay the first months rent and possibly put you in breach. If the TA doesnt set a deadline for agreement then I think Openrent are probably correct that you have to wait until after the planned move-in day before cancelling.

I would issue a cancelation and find a new tenant. It only gets worse when they move in. Cut your losses now.

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