sirandy
Mar 26 2008, 11:19 AM
Hello everyone, am not expert in renting, so was surprised when LAs asked me to pay 4 month rent in advance?
Is that normal? Is that legal?
My references and credit record are perfect, so this could not be the reason certainly. So, why LAs asking for so much rent
in advance then?
Thanks for your forthcoming comments!
P.S. I know that you may advise to choose another LAs but I have no time to look for another house, must move urgently.
pioneer31
Mar 26 2008, 11:34 AM
QUOTE (sirandy @ Mar 26 2008, 11:19 AM)

Hello everyone, am not expert in renting, so was surprised when LAs asked me to pay 4 month rent in advance?
Is that normal? Is that legal?
My references and credit record are perfect, so this could not be the reason certainly. So, why LAs asking for so much rent
in advance then?
Thanks for your forthcoming comments!
P.S. I know that you may advise to choose another LAs but I have no time to look for another house, must move urgently.
an opportunity for bargaining.
Demand a discount or walk away.
sirandy
Mar 26 2008, 11:49 AM
QUOTE (pioneer31 @ Mar 26 2008, 11:34 AM)

an opportunity for bargaining.
Demand a discount or walk away.
Thanks, pioneer31, no time to bargain, need to move in one week, and they have already obtained all references etc. They did not tell in advance
(intentionally?) and kept me in the darkness till the last moment.
agent46
Mar 26 2008, 11:50 AM
QUOTE (pioneer31 @ Mar 26 2008, 11:34 AM)

Demand a discount or walk away.
Didn't you read his post? He wrote -
"P.S. I know that you may advise to choose another LAs but I have no time to look for another house, must move urgently."
agent46
Mar 26 2008, 11:55 AM
QUOTE (sirandy @ Mar 26 2008, 11:19 AM)

So, why LAs asking for so much rent in advance then?
I'm not trying to be sarcastic, but have you tried asking the letting agent rather than the people on this forum?
pioneer31
Mar 26 2008, 12:01 PM
QUOTE (agent46 @ Mar 26 2008, 11:55 AM)

I'm not trying to be sarcastic, but have you tried asking the letting agent rather than the people on this forum?
I'm not trying to be sarcastic but perhaps he wants an
honest answer?
agent46
Mar 26 2008, 12:10 PM
QUOTE (pioneer31 @ Mar 26 2008, 12:01 PM)

I'm not trying to be sarcastic but perhaps he wants an honest answer?
Well my crystal ball is a bit cloudy at the moment, so unfortunately, I unable to penetrate the mists of time in order to unlock the mystery of the request for 4 months rent in advance.
Any suggestions will be nothing but pure speculation - it could be anything from the landlord having cashflow problems to the letting agent mistaking today's date for April 1st.
In any event, it doesn't really matter why they are asking for the 4 months rent in advance, what matters is what the letting agents tell him and whether he can do anything to persuade them otherwise.
gilf
Mar 26 2008, 12:56 PM
Sounds very iffy to me, unless they have already given you a reason then I wouldn't do it. Sounds to me as if Landlord is in trouble and needs to cash to pay arrears (pure speculation but would be my guess).
In terms of whether they can do it or not, they can do what they like, just as you can.
You say you can't negotiate as it's too late, well without wanting to sound harsh thats not their problem and I imagine you have told them you need to move fast and have to move in next week, they may well be trying it on.
Personally I'd pay for a report from the land registry to see if there are any recent problems with the mortage, if there are this may be the desperate attempts of a landlord in serious trouble and in which case I'd stay well clear, even if that does cause problems in the short term.
Flopsy
Mar 26 2008, 01:58 PM
Hi sirandy,
I've met this EA tactic before. If they suspect that you are desperate, they will ask for the moon, as the bargaining power is on their side.
4 months rent in advance is not at all usual. I did meet a couple who were paying 3 months rent in advance but they were Australians who did not have references or local knowlege and caved in to get a flat.
I have been asked for the 3 months before but always turned this down and looked for another flat. Do you have anywhere temporary that you can move to?
If you pay the 4 months in advance it leaves you with very little bargaining power - apart from not paying the next wallop and the EA/LL may try to take you to court.
The other issue is that the EA may now decide to put clauses in the AST that work against you and continue to try it on.
Being asked to pay 4 months in advance is also a warning that the LL may be in danger and this puts you in a vulnerable position if s/he is made bankrupt and the house is repossessed.
Please consider your options again as this does sound worrying. Do you have a friend who could offer a bed with your stuff going into storage until you find a home?
Good luck!
narrowescape
Mar 26 2008, 01:58 PM
I also think this sounds well dodgy.
You need to check that he has a buy-to-let mortgage or explicit written permission from his lender to rent out the property. That way, if the lender repossesses they will not be as quick to turf you out. If he doesn't, you definitely should not pay any more than one month in advance as you will be evicted pretty much at the point of repossession if he fails to keep up repayments and will end up homeless and heavily out of pocket.
Orbital
Mar 26 2008, 02:01 PM
maybe he's had probs with past tennants and is being over cautious. AFAIK the LL can ask for any depoist he likes. But it has to be kept in a holding account so he cant do a runner with it or use it to pay arrears....
Isnt renting fun?!
sirandy
Mar 27 2008, 12:57 PM
QUOTE (Orbital @ Mar 26 2008, 02:01 PM)

maybe he's had probs with past tennants and is being over cautious. AFAIK the LL can ask for any depoist he likes. But it has to be kept in a holding account so he cant do a runner with it or use it to pay arrears....
Isnt renting fun?!
Guys and Gals, thank you for your help, landlord reduced to one month rent in advance.
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