There is a group of four students living in my property, who wish to stay another academic year starting again from September, but will not be staying there over the summer but wish to keep the property for their use. One of the students will be staying for 6 weeks over that 3 month period, while the others won't be.
They have asked about paying a retaining fee-is there a recommended % of the full rent that they would pay over this period? Secondly, in terms of paperwork is all that is required is one signed copy of a sheet saying that I agree for the 3 month period only for a reduced rental rate which will revert to the full rate on its completion? Or is there more involved?
I would add they have been good tenants keeping the place in generally good condition so I am willing to go along with the retainer option.
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