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How to protect advance payment of rent
gfplux
Posts: 4,985 Forumite
In a few months time I may have to rent a flat in London for a year for my daughter.
We are not resident in the UK so will have no credit record. This will mean that we will have to pay six months rent in advance.
This is likely to take place through an estate agent.
Here is my concern. When I transfer this large sum of money to the EA how can I protect myself from all the things that could go wrong such as the EA going bankrupt the next day.
Thanks
We are not resident in the UK so will have no credit record. This will mean that we will have to pay six months rent in advance.
This is likely to take place through an estate agent.
Here is my concern. When I transfer this large sum of money to the EA how can I protect myself from all the things that could go wrong such as the EA going bankrupt the next day.
Thanks
There will be no Brexit dividend for Britain.
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Comments
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Your concern should not be what could happen to the letting agent, but what could happen to the landlord. Indeed, any rent you pay to the agent is deemed paid to the landlord.0
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Are you saying that even if the EA went bankrupt before handing over my payment to the landlord I would not be a creditor of the EA but the landlord would be.There will be no Brexit dividend for Britain.0
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Yes. The scenario of the EA going bust has no implications for youAre you saying that even if the EA went bankrupt before handing over my payment to the landlord I would not be a creditor of the EA but the landlord would be.
On the other hand if the LL goes bust or forgets to pay their mortgage, you daughter will get at most 2 months security of tenure after it happens.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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