UK Landlord Forum / Life

Hi all,
I have had two applicants that have passed all the questions and back ground checks.
They can give me 6 months rent in advance so I put that away in holding scheme?
They cont to pay rent monthly.
They want 2 yrs minimum.
Then at end do I give back 6 months rent (not deposit) back?
Cheers

That's not legal.
Rent in advance is rent paid in advance. If you continue to charge rent from month two and keep the five month's rent aside, that's a deposit of more than six weeks rent, which isn't allowed.

And, practically, you couldn't protect it in a scheme without lying on the admin forms when lodging it.

I thought you were selling up this year.

Obviously not

So 5 weeks rent is allowed. I appreciate the sound advice

Quote from: Shackowner on March 03, 2025, 02:46:26 PMSo 5 weeks rent is allowed. I appreciate the sound advice

Yes, five not six. Sorry.

Quote from: Shackowner on March 03, 2025, 02:45:43 PMObviously not

Sorry, my mistake. 

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