Can A Landlord Ask For Rent In Advance?
Rent in advance? Yes, some landlords do request them.
Some tenants may be concerned about having to pay advance rent, but this is a common occurrence.
Why will a landlord ask for an advance?
- Financial security. Because, in the end, it is all about business for the landlord.
- The hassle of looking for a new tenant all over again. They may take this to ensure that a tenant stays for the duration of their tenancy.
A landlord can actually request an advance with no legal limit on how much you can be asked to pay. However, you should not be charged anything more than the rental fee.
For example, if a landlord requests two months’ rent advance and your monthly rent is £500, you should pay no more than £1,000 (which is simply your rent X 2 months).
So yes! It is legal for a landlord to request an advance rent, but it may be worth considering whether you are certain about this demand or not before committing to it.
However, there are some guidelines that you should be aware of. If you’re asked to pay an advance, you should be familiar with the following:
- Your landlord will usually require a tenancy deposit, which is NOT the same as a rent advance.
- Because advance rent is NOT the same as a deposit, you should receive separate receipts for each.
- Even if you pay advance rent in cash or as a deposit, you should be given a receipt.
- If you pay rent and a deposit at the same time, make sure to inquire about how much of the rent is covered by the payment and why you’re making each payment.
While you may be tempted to pay in advance if you’ve found a great rental property, you should look into all other options to avoid doing so. Otherwise, take extra care to avoid paying more than you bargained for, especially if the landlord turns out not to be great!
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This blog post is not intended to constitute legal or financial advice