12 month's rent up front - is this a deposit?

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Mike_491
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I have a tenant who wishes to rent my property for 12 months on a AST. Due to earnings levels my insurer will not gauantee the rent and so the tenant has offered to pay the whole 12 month's rent up front ( as well as the standard delapidations deposit). I heard mention some time ago that advance rent had to be treated as a deposit and 'protected'. As hope this is incorrect as we lodge all deposits in the dps and trying to release x per month from it in order to cover the monthly rental would be impossible. Hopefully i misunderstood the point and, if so, is there a standard line that i can add to the tenancy agreement after the clause - the monthly rental is x for 12 months such as ... payable as an immediate payment of (12 X x). Many thanks in advance for any help
19/02/2011 00:00

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