Landlord advice please. Tenant wants to pay weekly

Jowo_2

Weekly by standing order?

clutton_2

not all banks to standing orders weekly

tbs624

Samroo - as some of the others have pointed out , if your Ts are required under the terms of a tenancy agreement to pay rent weekly then you must provide them with a Rent Book and notice periods are affected once into a SPA. Different on S8 Grounds too ( 8 weeks as opposed to 2 months of rent unpaid)

The Rent Book has to contain specific information and is to be retained by the T, not the LL as G_M has pointed out: Clutton's suggestion is irrelevant as it does not fulfil the legal requirements on rent books.

The only other way round is that your tenancy agreement says clearly "to be paid monthly" and you "permit" them to pay weekly. This will however muddy the waters - the Ts would effectively be in arrears from the start, as rent is of course usually paid in advance

The utility companies/ the local Council won't agree to weekly payments so these potential Ts will need to learn to budget ( unless your property has prepayment/card meters.)

Why not suggest that they open a separate bank account and pay their weekly amounts there so that they can then just set up a monthly SO from there on the monthly due date?

I agree with Artful & McKneff that these potential Ts sound alarm bells if they are unable to budget from the very start.

Colincbayley

clutton wrote: »

not all banks to standing orders weekly

No, but most will do 4 weekly standing orders, just set up 4 of them a week apart.

olly300

Run a mile.

If they can't budget for rent then they will be behind in utility bills and council tax which are paid monthly or quarterly.

This could cause problems for any tenants renting after them for example I lived in a property where the tenants before didn't pay their council tax, as a result all our council tax bills were red final reminders. Only when someone talked to the council involved did we find out the problem and sort it out.

Other issues include the property being installed with prepayment meters which future tenants with very good credit ratings find it difficult to change back, and BT asking for a massive deposit before supplying them with a phone line.

Then there is the issue of them running up other debts and leaving future tenants to deal with bailiff letters.

clutton_2

have you spoken to their previous landlord ?

lynzpower

If they can't budget for rent then they will be behind in utility bills and council tax which are paid monthly or quarterly.

er, utilities can be paid weekly, we are currently on prepayment for example
Plus council tax can be paid a bit at a time using a card at the post office and paypoints ( well it can be around my way)

tenants Getting behind on utilities isnt really the concern of the LL as any debts will follow the tenant

dizziblonde

Could suggest they set up a rent account and transfer the appropriate amount each week into there, having a standing order set up on a monthly basis for the rent?

poppy10_2

theartfullodger wrote: »

b) If they can't manage their finances such that they can pay monthly I'd have less confidence in them as tenants....

Same here. This would be a big warning sign for me.

dizziblonde

poppy10 wrote: »

Same here. This would be a big warning sign for me.

In a way though they're trying to do the sensible thing and get the rent paid as soon as the wages have hit the bank account. There are ways they could work around it, ok... but at least they're viewing the rent as something to be paid first, rather than the afterthought at the end of the month that some do.