Tenant to pay 6 months upfront rent but with guarantor?

Tenant to pay 6 months upfront rent but with guarantor?

10:55 AM, 13th January 2023, About 2 years ago 27

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Hello. I am planning to rent out my property on ATS for the entire 12 months.

The potential tenant, whom I really like, failed the reference check, and the guarantor has agreed to cover only 6 months.

So we are currently looking at the following schedule of payment with this Tenant: 1 month deposit plus 6 months advance rent; afterwards monthly rent payments and to add guarantor.

What do you think about this and how to word it correctly in ATS.

Thanks.

Ann


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Rennie

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19:05 PM, 14th January 2023, About 2 years ago

Reply to the comment left by C CA at 14/01/2023 - 18:48
Unfortunately not. The only way you can take 6 months rent is if you have a tenancy agreement which is for 6 months with rent payable 6 monthly in advance. The downside to this is that if you want to give notice you have to give 6 months notice. Doesn't matter what the tenancy agreement specifies the judge will rule it to be a deposit and then you will be in deep doo doo. Can't remember where I saw all of this but I think maybe Tess Shepperson.

C CA

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19:24 PM, 14th January 2023, About 2 years ago

Reply to the comment left by Rennie at 14/01/2023 - 19:05
Thank you Rennie...

Are you saying that the Judge would use his/her discretion to rule or you are referring some prescribed in the House Act or a Statutory Terms .???

Darren Chitty

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20:03 PM, 14th January 2023, About 2 years ago

I have 2 properties rented to Tennant's that failed their credit checks and both had 6 month guarantors. I have had both 4 years so far and they have never failed to pay rent. You can never really tell who you will get. Some people fall on bad luck some maybe have had debt run up in their name. Maybe ask as to why they failed and what they have since down to prevent it happened again.if you have rent guarantee insurance they wil probably not pay out.

Rennie

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20:46 PM, 14th January 2023, About 2 years ago

Reply to the comment left by C CA at 14/01/2023 - 19:24
Its not discretional. sorry I can't be more specific. took me a long time to work it out and get anecdotal and case histories.

Landlord of 25 years

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14:58 PM, 15th January 2023, About 2 years ago

I dont know where Ray is but the court I went through was Barnet. No one replied to my e mails. You cannot phone. If you go in person you cannot see anyone. It was absolutely hopeless.

Pixie Props

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17:49 PM, 18th January 2023, About 2 years ago

Surely you don’t need the worry, especially as tenants are plentiful at present. Just get on and get it rented without nagging doubts. He may seem a nice bloke but so was Crippin!
Today’s tenants can be very informed of regulations and sly.n
Ive had a couple of similar experiences one was a young couple setting up home together. They would not let me visit after a couple of months saying the lady was ill and it was not convenient. Turned out to be a cannabis farm. Very costly to sort out. Blighted the house making it difficult to rent.

Rennie

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18:17 PM, 3rd February 2023, About 2 years ago

I found the case about paying 6 months rent in advance..... Johnson V Old https://www.bailii.org/ew/cases/EWCA/Civ/2013/415.html

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