Pay a years rent up front and bargain for a discount?

Slattery_2

My girlfriend and I have secured a property to rent at the beginning of August.

We both have significant savings and could easily afford to pay a years rent in one go if it was made worth our while.

I was considering one of the following,

a) asking for a month free i.e. pay 11 up front

or be

b) asking for the landlord to install double glazing and a burglar alarm just before or within the first week of tenancy.

Both of which I would ask that we have first refusal of another 12 months at the end of the tenancy at the same rent.

Am I being clever and using our savings to our advantage or am I being silly?

Please advise

3cardMonty

Just think of all the risk invovled if you get kicked out for the LLs doing something wrong, there is very little chance of getting your money back.

But yes you can often get a discount for 6mnths upfront just be aware of the risks.

Kynthia

I'd be wary giving 12 months up front as what if the LL is behind on the mortgage and the property is repossessed. If he doesn't have consent to let you could be kicked out and have to sue for the return of your rent. Also I'd prefer a 6 month contract or 12 month with break clause in case things didn't work with that property or LL, therefore I wouldn't want to have paid more rent that I might use.

G_M

1) see my two posts in this thread here on upfront rent payments.

2) additionally consider the risk of losing your money (ie the landlord goes bust, property repossessed, you get evicted, and no 'refund' of your rent)

Murphymycat

If you have paid one years rent up front it is going to be very difficult for you to be evicted. Remember only the courts can evict, not the landlord or mortgage company. If the landlord is behind with the rent and the property is repossessed through the courts then most mortgage companies would let you stay on anyway until the end of the contract which in this case is until the end of the original year. It can take a long tome to go through the court process.

If it were me I would not pay that much up front as then the landlord has no incentive to get repairs done etc.



my experience as

Current tenant
Ex landlord
Retired ARLA letting agent

G_M

Murphymycat wrote: »

If you have paid one years rent up front it is going to be very difficult for you to be evicted. No more difficult than where there is a 12 month tenancy agreement and the rent is paid regularly each month

Remember only the courts can evict, not the landlord or mortgage company.true

If the landlord is behind with the rent ???? :question: ??? and the property is repossessed through the courts then most mortgage companies would let you stay on anyway until the end of the contract depends if the mortgage lender knew about the tenancy. If there was a BTL (or CTL) mortage, the lender has to take on the tenancy (ie till the 12 month fixed term is up). But if not they can evict, though since last year the courts can now give the tenant two months grace.
which in this case is until the end of the original year. It can take a long tome to go through the court process.

If it were me I would not pay that much up front as then the landlord has no incentive to get repairs done etc.
A good LL will do repairs anyway, if only to keep his property in good repair! A bad LL may well not do repairs whatever the rent arrangement!

See http://www.legislation.gov.uk/ukpga/2010/19/contents

phill99

You seem to be under the impression that you have the upper hand in negotiation. I'm not convinced that you do. Certainly in the case of expecting double glazing to be nstalled within a week of moving in: I think you are in fantasy land. Let's say the rent is £800/month ie £9600 pa. but you expect the LL pay say £3000 on double glazing. I would tell you were to get off.

dimbo61

Dont think the LL will install double glazing or alarm as he has now got tenants who have agreed to pay the rent he wants without either of these things ( YOU )
So you can look for a place with DG and alarm or make do with what you have secured

sirmosh

If you have so much money saved up why not look into buying a place instead of pumping all your savings into renting?

Callie22

OH and I once paid six months rent upfront when we were recent graduates - we had to, as with no employment history we were finding it hard to rent. However, I would never, ever do it again unless I was absolutely desperate. The main problem we had was the both the LL and LA completely ignored us for the whole six months and we couldn't get anything done - and the property was seriously in need of repairs. We felt that once they had our money, neither the LL or the LA gave a damn - in fact, we couldn't even get them to call us back until the end the of six months, when they wanted us to sign new contracts etc. So I'd be very wary of thinking that paying rent in advance somehow gives you a better deal. We felt that we were being held to ransom.

3cardMonty

Murphymycat wrote: »

If you have paid one years rent up front it is going to be very difficult for you to be evicted. Remember only the courts can evict, not the landlord or mortgage company. If the landlord is behind with the rent and the property is repossessed through the courts then most mortgage companies would let you stay on anyway until the end of the contract which in this case is until the end of the original year. It can take a long tome to go through the court process.

If it were me I would not pay that much up front as then the landlord has no incentive to get repairs done etc.



my experience as

Current tenant
Ex landlord
Retired ARLA letting agent

You have a lot of experience, can I ask how you used to be a LL and now are a tenant? Did you sell to rent waiting for the property value crash?