6 months rent in advance
Hi, I have a potential tenant who wishes to pay 6 months upfront rent.
I am referencing them.
I usually take 1 month's rent in advance and a deposit equally to 1 month's rent and secure the deposit.
I'm wondering how I go about setting up the tenancy and deposit if I do take on this tenant with 6 months up front payment. I spoke to one of the advisers this morning but am still confused.
She mentioned something about an addendum and a 7 months AST.
I was thinking I have 2 options, either a 6 months AST where I make it clear that the 6 months money taken up front will be 5 months up front rent and the equivalent to one month's rent secured as the deposit
But how does this effect if I needed to use a section 21? and what tenancy and addendum is required?
I say to the potential tenant they need to provide 6 months rent up front with an additional 1 months rent (funds equal to 7mintjs rent in total) I will then secure the additional 1 month's payment equal to 1 month's rent as a deposit, meaning they will have technically given me funds equal to 7 months rent.
in either case what would I need to do regards setting up a tenancy and any addendum.
If there is be an addendum to safeguard the notice period how should the addendum be worded regards rent being paid going goingafter the initial tenancy term?
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