Landlord wants rent to come out of one account

tbs624

jjlandlord wrote: »

I Plus there will be the issue of the account going overdraft etc.

Have no overdraft facility on that account.

If one student won't pay their "share" on time then the other Ts should perhaps "strongly encourage" them to part with some of their electrical goodies/fancy phone/ MP3 thingy/designer handbag down at the local Cash Converter or similar.

jjlandlord

tbs624 wrote: »

Have no overdraft facility on that account.

That won't solve the other issues and imo won't guarantee that the account won't go overdraft.

Unless the agreement specifies that the rent be paid in a single payment (not sure if it can do that), tenants can pay from different accounts if they wish.
I don't see the landlord refusing, ie. refunding the money...

At the end of the day if bank transfers are setup nicely with the reference to the property, the overhead to the landlord is close to zero.

tbs624

jjlandlord wrote: »

That won't solve the other issues and imo won't guarantee that the account won't go overdraft.

The "other issue" is kind of an irrelevance because the joint bills and the joint tenancy will mean that a link exists anyway.

jjlandlord wrote: »

Unless the agreement specifies that the rent be paid in a single payment (not sure if it can do that), tenants can pay from different accounts if they wish.
I don't see the landlord refusing, ie. refunding the money...

At the end of the day if bank transfers are setup nicely with the reference to the property, the overhead to the landlord is close to zero.

See post 7 and my comment regarding clear banking narrative, plus my suggestion that there would be little the LL could do about any potential "breach" of an agreement to pay "as one"

The main point is that, as always with these things, it is best to sort the issue amicably prior to the tenancy.

jjlandlord

tbs624 wrote: »

The "other issue" is kind of an irrelevance because the joint bills and the joint tenancy will mean that a link exists anyway.

Not necessarily. A joint tenancy has no immediate impact on credit rating, even in case of rent arrears.
Paying into a lead tenant's account has its risks, as mentioned.

There is no benefits to tenants to pay in a single payment.
If one of the joint tenants does not pay they will be notified soon enough anyway.

tbs624

The benefit to the single payment of rent is clearly to the LL - no-one has suggested otherwise.

The LL may of course be trying to minimise his banking charges on a business account - a year's contract with 4 separate receipts could cost him around an extra 25 quid that he'd rather not have to pay ( yes, he can set it down on his tax return)

However, we can bat back and forth but it makes not a bit of difference to these specific potential Ts and their possible LL.

OP - in your situation I would talk to the LL direct.