When is deposit and first month's rent due?
First of all, I am a rather inexperienced landlord, currently trying to rent out my second property (no problems so far with the first one and long may it continue).
I thought I found I nice new tenant, all the checks came back the way I wanted to see them. We arranged a moving in date, based on the property still needed some refurbishment. House refurbished, prospective tenant had another look, all of us happy, arranged a moving in date of tomorrow (Fri 7th April). I requested for the deposit and pro-rata rent to be paid by bank transfer by this lunch time at the latest, with keys to be handed over tomorrow morning 10 am. Contract was meant to be signed on the day, just prior to key being handed over.
No money has arrived, the prospective tenant now wants to move in at a later date.
In my mind, red flags started to appear and I want to put the house back on the market. Am I paranoid? How do other landlords/landladies deal with the deposit and rent payment? On the day of moving in or just before or even when somebody decided they want the property? What is the legal situation?
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