Comments on: Guide For Landlords That Don’t Want To Use Letting Agents

By: The Landlord

The Landlord — Wed, 08 Feb 2012 20:23:41 +0000

No worries :)

Cash is king. I’ve had plenty of tenants pay cash on move in day!

By: Mr X

Mr X — Wed, 08 Feb 2012 15:36:24 +0000

Thanks for replying Landlord.

Yeh I totally agree with you, just wasn’t sure how to go about taking the funds. My concern was answered in this response… “I’ve never had a tenant question the prepayment policy in the past, it’s pretty standard. “.

If this is tricky, I would probably take bankers draft on the day, or even cash.

Thanks for clarifying.

By: The Landlord

The Landlord — Wed, 08 Feb 2012 08:12:09 +0000

Hi Mr X,

Well, the landlord should ensure he/she receives the deposit and first month’s rent before any keys are passed over. Reason being, in theory, as soon as the tenant physically moves into the property, they become legal occupiers of the property. And you don’t want to give tenant’s that legal right until they have paid for it!!

I’ve never had a tenant question the prepayment policy in the past, it’s pretty standard. Moreover, from what I’m aware, ALL letting agencies (at least ones that know what they’re doing) require the tenant to pay the deposit and first month’s rent before the tenant can move into the property.

A lot of rental scams have revolved around bouncing cheques. So whatever method you’re receiving payment in (e.g. cheque / transfer) just ensure the funds have completely cleared into your account before you pass over keys to the front door.

By: Mr X

Mr X — Tue, 07 Feb 2012 20:32:36 +0000

This is an excellent post. Using this as my blueprint.

Quick question, you touched on this above, but still a bit unsure about the initial payment.

On move in day the tenancy is signed. So tenant would be expected to pay rent and deposit a few days before they move in, would tenants feel ok to do this? Secondly if they don’t wish to pay for BAC’s transfer, I assume they would need to pay maybe around 3 working days before move in day for the payment to clear?

By: Dino

Dino — Mon, 28 Nov 2011 15:36:34 +0000

Thanks Benji that’s what I wanted to hear.

By: Benji

Benji — Mon, 28 Nov 2011 15:10:39 +0000

Dino,
Yes you can but there may be a penalty to pay.
Depends on the terms and conditions of your agreement with the agent. Have a good read through, it should tell you in there.
If you feel the terms in it are unfair, you may have a case under the unfair terms etc act.
Even if not, it can be a starting point for negotiations.
Although it doesnt strictly apply to your case, if you mention the ‘Office of Fair Trading v Foxtons’ case, most letting agents tend to be more willing to do a deal.

By: Dino

Dino — Mon, 28 Nov 2011 14:34:08 +0000

Hi does anyone know if you can drop w letting agent but keep your tenant on? Fed up of paying them to do nothing? Thanks for any advice

By: Leon

Leon — Sun, 06 Feb 2011 22:12:26 +0000

Your blog is not only a great source of info, but a very funny read. Respect

I was just about to get into bed with a letting agency, but I really really dont want to pay them close to £3000 in fees and £1000s in rent upfront for doing very little, especially as it’s a let-only arrangement.

By: Feefee

Feefee — Wed, 01 Jul 2009 13:05:26 +0000

Ohh this is so helpful to me ( seeing as i dont have a CLUE) i dont need to go searching anywhere else now :D

By: Steve

Steve — Mon, 29 Jun 2009 22:34:23 +0000

Thanks for your replies

I had a ‘full & frank discussion’ with the propective DSS tenant today reminding him that i needed AST signed, deposit + advance rent before he even thinks of reversing his hertz rent-a-van onto my drive – turns out that meelado didn’t, and never did, have the cash for the deposit – he hadn’t even booked the van ffs – what a twat

Still, you live & learn