Should I accept fortnightly rent payments after serving a Section 21?

That's why I have individual bank accounts for each property. Each tennant can pay what they like into the account. I then take out what the correct rent is for that month.
What is left can be refunded. Simples.
Actually it's better to get a good letting agent to manage the properties. The cost is tax deductible and you get an independent witness to any non payment of rent, or other issues. They can also ensure maintenance issues are done promptly and professionally and you have a witness for that, as well as how the tennants conduct themselves. Tenants tend to behave better when an estate agent is doing the management anyway.
Finally they can advertise the property when you do want to sell up, while the tennants are still in the property.
All you have to do is manage the estate agents!

individual bank accounts? you are joking, aren't you?

Just treat each payment as a payment on account.

Based on the £1000pm figure.

Rent, £1000, due 1st of month, £500 received.
At this point the tenant is technically £500 in arrears, but catches up when the second payment is made, mid month.

The arrears don't matter as it should never be more than half a month.

If they disappear mid month, having only paid for the half of the month they've been in situ, you can either deduct from deposit or think your self lucky they've gone!

Take whatever cash you can, on account.

Receipt every fortnightly payment as

Received part payment of £***.** in advance for rent period **/**/****-**/**/**** as per Tenancy Agreement at £xyz per calendar month due on the ** of each and every month of the term.

People seem to be over complicating things. What or when your tenant decides to pay won’t impact your S21, just carry on as normal. In the highly unlikely circumstance that your tenant overpays you will have to refund the excess, but we all know that won’t happen. I imagine your tenant will simply pay the months rent in two chunks approximately a fortnight apart. They are probably actively looking for somewhere else and want to be in control of the money. It’s probably a good sign for you.
What I’ve done before when I wanted to sell a tenanted property was provide a written reference for the tenants to take to agents stating that we are selling the property due to personal reasons (or whatever) and that I have no hesitation in recommending this tenant and would be pleased to let to them again etc.
It can be seen as a red flag to a landlord when a tenant says they’re moving because the landlord is selling. It could be an excuse to cover S21 for non-payment etc. so a letter of recommendation backing up their reasons for moving might help. Just a suggestion.

Reply to the comment left by Smiffy at 04/07/2024 - 14:15
No Jokes,
Just imagine when you are in court and the judge has to look at your bank account and sees multiple payments from multiple property rents, it's a nightmare to sort out for them.
Just one bank account for each property actually becomes an independent record of payments made by the tennant, and nothing else. No arguments about who paid what and when. It's all there clear to see what has been paid in the past and when.
Simples!