rent
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Is it normal to increase the rental amount annually in line with inflation?
Read more: Is it normal to increase the rental amount annually in line with inflation?Rent review clauses enable landlords to increase the rent in line with market rates and/or inflation. Typically, a longer lease will involve one or more rent reviews during the term. As a tenant, you will be at risk of the rent increasing. Conversely, as a landlord, you will want to ensure that you are not […]
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Is there not a legal limit (%) on what you can put the rent up by?
Read more: Is there not a legal limit (%) on what you can put the rent up by?No – The determining factor if a rent increase were to be challenged would be the rent that the property might reasonably be expected to be let for in the open market*. * which is a periodic tenancy having the same periods as those of the tenancy to which the notice relates, which begins at the beginning […]
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Should I increase the rent?
Read more: Should I increase the rent?This is a business decision only you can make and nobody knows your business better than you! As a business, the income has to exceed the costs if it is to remain viable. Here are a few things to consider to help you answer the question: Where the costs of running the business (e.g. mortgage) […]
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On what day will I receive my rent?
Read more: On what day will I receive my rent?In all instances the balance on account will be transferred to landlord within 5 calendar days of the rent day. We ‘same day’ process rent payments received however rent payments received late in a working day and after office hours are processed the next working day which could be after a weekend or bank holiday […]
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When do I need to pay the remainder of the deposit and rent?
Read more: When do I need to pay the remainder of the deposit and rent?Payment of the remainder of the Tenancy Deposit and advance rent is to be made on the signing of the Tenancy Agreement. Still not answered your question? We love questions so fire it at us using the contact details here Please rate this article so we know how well it answered your question…
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Do you have tenant late payment fees and are these passed to the landlord?
Read more: Do you have tenant late payment fees and are these passed to the landlord?Yes – if any rent or other money payable by the Tenant to the Landlord under the provisions of the tenancy agreement shall not be paid on the day on which it becomes due the same shall be payable with interest thereon at a rate of 8 per centum above the reference rate for the […]
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Can I pay more than one months rent in advance?
Read more: Can I pay more than one months rent in advance?Yes – under the terms of our Tenancy Agreements, rent is always paid in advance – typically monthly for the next rental month. Tenants can at their discretion pay more that one months rent in advance. Where a tenant has a low credit score or fails the affordability assessment, it may be a pre-condition of […]
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What date do cleared funds for the initial rent need to be received by?
Read more: What date do cleared funds for the initial rent need to be received by?In the permitted pre-tenancy period – between when the tenancy is entered into, and the day before the first day of the tenancy. Still not answered your question? We love questions so fire it at us using the contact details here Please rate this article so we know how well it answered your question…
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Do landlords normally increase rent annually?
Read more: Do landlords normally increase rent annually?Information about increasing rents can be found in this blog article How to increase the rent for an assured shorthold tenancy A word of caution about increasing rents… …It is reasonable that rent levels can change in line with market values. However, rent increases need to be treated with caution. Rent increases are never welcomed […]
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If I am paying 6 months rent in advance why is the tenancy for 7 months?
Read more: If I am paying 6 months rent in advance why is the tenancy for 7 months?This is to prevent inadvertently creating a 6 month periodic tenancy. Repeatedly accepting 6 months rent in advance could imply a 6 month periodic tenancy has been granted and therefore would require a 6 month notice period for possession. The periodic tenancy arising after the end of the fixed term will take it’s period from the last rental period for the fixed term […]