Normally it’s expected of a tenant to pay rent one month in advance, and in this country it’s very unusual for a landlord to ask for more. However, occasionally tenants decide to offer more rent initially as a way to secure a tenancy in areas of high demand. Sometimes tenants will offer a landlord as much as six months or a year of rent in advance as an incentive for the Seaford landlord to choose them over another tenant. There are certain advantages and disadvantages to this when letting your Brighton property.
Experienced landlords should be wary of tenants who offer a large amount of rent up front. Of course there are many legitimate reasons why a tenant would choose to do this, but in some cases it can spell trouble.
Some tenants will pay in advance because it’s the only way they can secure a tenancy. This could be because they have a history of abusing rental properties, or defaulting on rent. A scary proposition, even if you know the first six months are definitely paid for. This is something to be wary of, especially if your property isn’t in an area with particularly high demand. You should always reference your tenant properly, even if they give you a large sum of money. Of course if you hire us as your Seaford property management company, we will ensure your tenant undergoes all appropriate checks.
There is also an unfortunate rise in people renting properties to be used for illegal purposes such as growing cannabis and manufacturing other drugs. The very first sign a landlord should look out for is a large amount of rent paid up front. This is usually done so that you won’t have cause to visit the property. No matter the state of affairs with rent, you must carry out a quarterly inspection of your property to make sure any impropriety isn’t going on. Of course, again, if you hire us as your Brighton property management company, we’ll carry out all quarterly checks on your behalf, ensuring your property is well taken care of by your tenants.