the student has no guarantor and would like to pay 12 months upfront…
how could I create a contract with such a clause in openrent rentnow?
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What happens at the end of the 12 months if he doesn’t leave and doesn’t have the money to pay you. Answer - about another 6-10 months without rent whilst you evict him.
If they can provide 12 months in 1 amount, I feel they will be ok, as lo g as they are respectful when you meet and also pay a deposit.
I have done this many times with no issues. Openrent can alter the contract.
Does their monthly income meet affordability?
Thanks everyone for replying, Just an update here to help other landlords
Eventually I proceed with the student with 12 months upfront payment. No guarantor. I agree there is still some risk, as with all investments. The important thing here is that I talked to the tenant rather than through the agent. Hopefully first hand information will help to choose the right one.
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