May 12 • General discussion
RRB and rent in advance
I am sure that many Landlords like me have been told numerous times that rent in advance will be banned and offenders fined.
However I have been looking at the RRB guide on Gov.uk and in particular their comments on Rent in Advance. For ease I am copying the clause below
Which nations do the rent in advance prohibitions apply to?
- Housing is a devolved matter. The rent in advance prohibitions apply only in England.
This doesn’t prevent tenants from paying rent advance within a tenancy. Isn’t this a loophole?
- While landlords will be restricted from including terms in a tenancy agreement which require rent to be due in advance of the rent period to which the rent relates, tenants will remain free to pay prior to the rent due date should they wish to do so. This maintains flexibility for tenants to manage their tenancies in the way that best suits them. A landlord will not be able to require a tenant to pay their rent before it is due.
From this it appears Tenants will be free to voluntarily pay rent in advance it is just a Landlord cant insist on it.
Therefore those Tenants who struggle to pass referencing or Overseas Students appear to be able to pay a years rent in order to secure the Tenancy as they do now, should they want to.
This would seem to be something that has either been missed by all these experts and the NRLA!
I am going to make enquiries on behalf of the GB family and will give an update at our next meeting on the 22 May. So if this would affect you make sure you book your place and turn up!!
0
1 comment
RRB and rent in advance
skool.com/gblandlords
A place for landlords and property professionals to come together to learn and share best practices.
No selling or listings for sale please.
Leaderboard (30-day)
1
+5
Powered by