UK Landlord Forum / Life

Hello landlords!  Nice here, isn't it??

I wonder if anyone can help me.  One question - what is the normal (and acceptable) length of time that it takes for a letting agent to receive the rent from a tenant before paying the landlord?? i.e., days, weeks, months ....

Any feedback would be very gratefully received.

Acceptable to me in general (not that I use an agent).  If rent was paid on the 1st I'd want it by the 3rd at the latest, obviously minus their fee for doing nothing.

With Faster Payments being provided by nearly any financial institution you can think of, there should ideally be no delay. Of course, they'll talk about admin. and weekends and all sorts of tosh, basically, they'll be using your money to temporarily augment their own position.

With our agents, the tenant would pay them on the 1st, then we would receive it on the 5th.

Wow!  Thank you!  What quick responses!   

What we all want to know is how long are you waiting?

Who?

You

What he said ^^^^^

Me?

You

Grumpy,

Are you the LL?
OR the tenant?
Or the agent?

If you are the LL, you should get your rent no later than five working days from the day your tenant pays.
Tenant pays rent on the due date.
Agent should pay LL rent three days after receiving rent from Tenant.

Hi, thanks people.  I am a Landlord, using an Agent.  Now all sorted following me stamping my feet.  Rent is being paid to me within 5 working days.