UK Landlord Forum / Life

Hi,

If the Rent is £800 pcm

and, the rent payment days are on the 5th day of each consecutive month with the 1st rent day on the 5th of June 2014,

and, the Tenancy period (FIXED TERM) is 12 months plus one week, starting on the 5th June 2014 my question is: How do you word the TA to say that the Rent on the last rent day will be £200 and not £800?

First comment is that 1 month != 4 weeks. Are you OK with the Tenant paying 25% of a PCM amount for 1 week?

Given the Maths is out.

I would just summarize in a table the dates and amounts expected.

Quote from: Hippogriff on May 26, 2014, 11:37:30 AM
First comment is that 1 month != 4 weeks. Are you OK with the Tenant paying 25% of a PCM amount for 1 week?

The Rent is pcm payable monthly on the 5th of each month and not 4 weekly.

Are you suggesting that I should charge the full Rent for the last week? Will a potential T accept that?

Quote from: boboff on May 26, 2014, 12:48:17 PM
Given the Maths is out.

I would just summarize in a table the dates and amounts expected.

Boboff, that would be simple enough if T only stays for 12 months and a week. But if a SPT arises one does not know when it would finish, so drawing a table predicting the date when the last reduced payment will occur is not possible in the TA.

I would set the fixed dates as  5th June - 12th June 2015, with the PCM as £800, and then have a supplemental agreement (just a written document), which clearly clarifies that between the 5th June 2015 - 12th June 2015, the rent is £200. Ensure the property, dates, tenant and landlord are specified, and get it signed by both parties.

Quote from: propertyfag on May 26, 2014, 04:39:30 PM
I would set the fixed dates as  5th June - 12th June 2015, with the PCM as £800, and then have a supplemental agreement (just a written document), which clearly clarifies that between the 5th June 2015 - 12th June 2015, the rent is £200. Ensure the property, dates, tenant and landlord are specified, and get it signed by both parties.

The fixed dates are there already from 5ht June for 12 months and a week that is the same as saying that tenancy starts on 5th june and ends on 12th June following year with £800pcm Rent.

If in a suplemental agreement it is stipulated that "between the 5th June 2015 - 12th June 2015, the rent is £200" that would be fine if T vacates on due date but what would happen if if T doesn't go on due date as sometimes happen? He will have to pay from 12th of June 2015 till next rent day on 5th July 2015?

Quote from: LLP on May 26, 2014, 04:21:22 PMThe Rent is pcm payable monthly on the 5th of each month and not 4 weekly.

Are you suggesting that I should charge the full Rent for the last week? Will a potential T accept that?

No, I'm suggesting you're overcharging your Tenant with £200 for a week. They get a better deal the rest of the year, most of it, right?

Quote from: Hippogriff on May 26, 2014, 06:20:44 PM

Quote from: LLP on May 26, 2014, 04:21:22 PMThe Rent is pcm payable monthly on the 5th of each month and not 4 weekly.

Are you suggesting that I should charge the full Rent for the last week? Will a potential T accept that?

No, I'm suggesting you're overcharging your Tenant with £200 for a week. They get a better deal the rest of the year, most of it, right?

Ooops! You are right Hippo. That last weeks rent should be £184.62. Thanks.

But the original question still remains...

Where this occurs with agreements like finance hire and council tax, the odd is made the first payment, and therefore it leaves your tail clear so to speak.....

Quote from: boboff on May 27, 2014, 06:14:45 AM
Where this occurs with agreements like finance hire and council tax, the odd is made the first payment, and therefore it leaves your tail clear so to speak.....

I think you are correct! I was complicating TA unnecessarity. The odd payment should be an inicial payment from the 5th to the 12th of june. The subsequent payments would be on the 12th of each month. Thanks.