Would you ever pay your 12 months of rent in advance to secure a place?

Soldato
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As title really.

I'm currently looking to rent somewhere in Cardiff with my gf and its a bit competitive for 2 bed places in our price range. We pass affordability for the properties we're looking at with ease and are young professionals.

I was thinking about whether there was much leverage in us telling a landlord/agent that we would be willing to pay the 12 months rent in advance in the hope it puts it at the front of the queue when going for an apartment.

I know this kind of thing happens in other parts of the country but i've not rented for years in the UK and was wondering if anyone has done it and how they got on? and if you think it's a wise thing to do?

I'd try and negotiate a lower monthly rent so there is something in it for us too.
 
Soldato
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You'd have to ask the landlord not us haha.

They might think your trying to start up a canabis factory.
 

Jez

Jez

Caporegime
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I would be very happy to accept this, but would still insist that my agent does the usual 6 monthly checks on the apmt. I wouldn't accept a (remotely significantly) lower rate, though, the capital doesn't have much value. I think you'll find that that element is a non starter for most people.
 
Soldato
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Welcome to Cardiff.

Yes the rental market is hard around here. One of those places that the house prices and the rent are out of balance. Renting is significantly more expensive. Not just more expensive.


Sorry not much help your actual question!
 
Soldato
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if u both find a place u really love then yes do it! Could be a good way to save a bit of money also if you don't think you'll be jumping on the property ladder over the next 8-9 months or so
 
Soldato
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I managed to do it a few years back, and got a bit of a discount on the rent too as I was only going to be there for 12 monts anyway.

Dunno if that would work today, depends how many potential good quality tennants there are I guess.
 
Soldato
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Yeh i'm not doing it as a means of getting out of any checks, the landlord/letting agent can check it as many times as they would do normally. Was just hoping the prospect for a landlord of having the capital up front would be appealing. I'm a landlord myself and I would be open to the idea.

We're definitely not going to be buying within the 12 month period but its definitely on the cards but we just need to rent somewhere first to get our ducks in a row and what not.

We will give it a punt once we find somewhere that ticks all of our boxes!
 
Associate
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We had to do that when we relocated and rented for a year while looking for somewhere to buy. The house was pretty unique, in the perfect location and in immaculate condition. 12 months paid up front (£25K eeek!) and no issues for the year we were there. That was after a bidding war for the rental as well. Don't you just love the UK housing market?

I would say that it would be a reasonable thing for you to do to get the ideal property.
 
Soldato
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Well, it'd certainly put you to the front of the queue, and possibly further a precedent that makes it harder for other, poorer people to rent later on... Generally that sort of conduct, from both the 'seller' and 'buyer', tends to make a lot of people quite ****** off in most walks of life.
I have to admit that we tried something similar ourselves once, and were met with a response from the letting agency that politely tantamounted to "**** right off, you dishonourable, conniving *****". So much for all such companies being unscrupulous money-grabbing bar-stewards...!!

It'd also raise some questions, such as why someone with £15k to quite casually drop on jumping a queue isn't simpy putting down a deposit on a mortgaged property, especially as that seems to be about the average deposit price in Cardiff...
 

bJN

bJN

Soldato
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The last house we were in before we bought I did this. £800 a month up front in full for the year. I had to speak to the actual landlord and not the letting agency to arrange it though, as the LA were adamant they wouldn't do it, but the LL obviously just sees a headline sum and liked the idea. Only reason we did it was because I had started contracting a few months earlier and the LA would not entertain my "salary" (which obviously was the bare minimum because contracting) despite the actual contract taking home the months rent and then some a week... Morons.
 
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My daughter is a student at Uni. I always pay her rent up front (12 months), avoids having to give rent guarantees and means I can pay and forget for 12 months. July is expensive for me every year.
 
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A tennent offered me this option last year as they were self employed during covid and I wasn't confident in their income estimates. Put my mind at ease as a landlord and moved to quarterly payments this year at their request.

Didn't give a discount but have kept the rent the same even though it should probably be 10-20% higher now
 
Soldato
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My sister did this (at the request of the LL) around 5 years ago as she was on a 0 hours contract and her partner was self employed. She didn't get a discount but it did mean she got the property (I don't think the LL would have accepted her without this).
 
Soldato
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Well, it'd certainly put you to the front of the queue, and possibly further a precedent that makes it harder for other, poorer people to rent later on... Generally that sort of conduct, from both the 'seller' and 'buyer', tends to make a lot of people quite ****** off in most walks of life.
I have to admit that we tried something similar ourselves once, and were met with a response from the letting agency that politely tantamounted to "**** right off, you dishonourable, conniving *****". So much for all such companies being unscrupulous money-grabbing bar-stewards...!!

It'd also raise some questions, such as why someone with £15k to quite casually drop on jumping a queue isn't simpy putting down a deposit on a mortgaged property, especially as that seems to be about the average deposit price in Cardiff...

LOL. I don't see it as dishonourable or conniving in the slightest, I've no idea why a letting agent would come back to you in such a way either.

And raise some questions with who? :cry:

There are also plenty of reasons why someone might be looking at renting when they have the money to get a mortgage..........:rolleyes:
 
Soldato
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LOL. I don't see it as dishonourable or conniving in the slightest, I've no idea why a letting agent would come back to you in such a way either.
If you're in a queue, you're in a queue. People don't take kindly to being leveraged out of their spot.
For example, you may recall there being a GPU shortage and lots of people who'd already been waiting months getting pretty upset, when they heard about others who'd just rocked up and thrown additional money down were getting served first? Same sort of thing goes here, apparently, and I'd assume landlords also wouldn't want it known that they're the sort who will just drop prospective tennants in favour of someone else with more cash to splash?

And raise some questions with who? :cry:
There are also plenty of reasons why someone might be looking at renting when they have the money to get a mortgage..........:rolleyes:
Well I'm certainly wondering why you aren't just buying if you've got enough for a deposit already. Everyone is so keen to make fun of me for renting because "it's such a waste of money and costs you more in the long run"... but I don't have deposit money, so I'm curious as to why you'd 'waste' your money...
 
Soldato
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If you're in a queue, you're in a queue. People don't take kindly to being leveraged out of their spot.
For example, you may recall there being a GPU shortage and lots of people who'd already been waiting months getting pretty upset, when they heard about others who'd just rocked up and thrown additional money down were getting served first? Same sort of thing goes here, apparently, and I'd assume landlords also wouldn't want it known that they're the sort who will just drop prospective tennants in favour of someone else with more cash to splash?


Well I'm certainly wondering why you aren't just buying if you've got enough for a deposit already. Everyone is so keen to make fun of me for renting because "it's such a waste of money and costs you more in the long run"... but I don't have deposit money, so I'm curious as to why you'd 'waste' your money...

What are you on about. Private landlords are not social housing providers, they dont have 'queues'.

They assess applicants and pick a tenant that meets their criteria balanced against risk (Be that employment, income, criminal convictions, credit checks, references etc)

Offering 12 months of upfront rent effectively removes or seriously mitigates against one of those risks - Ability to pay the rent (FYI this is likely top of the list for most private landlords)

It's not uncommon for a landlord to ask for upfront rental payments from a prospective tenant who has unproven income or questionable employment status. Offering it the other way around isn't going to faze most landlords.

If it makes the tenant more attractive to a prospective landlord then thats what the OP hopes to achieve.

I'm a private landlord and being first to apply means nothing. Offering 12 months upfront isnt going to guarantee you a tenancy above all other criteria and checks but it certainly lessens concern.


To the OP: If you do it and get accepted make sure you negotiate acceptable break clauses and clear positions regarding paid rent and refunds in the contract.
 
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Soldato
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If you're in a queue, you're in a queue. People don't take kindly to being leveraged out of their spot.
For example, you may recall there being a GPU shortage and lots of people who'd already been waiting months getting pretty upset, when they heard about others who'd just rocked up and thrown additional money down were getting served first? Same sort of thing goes here, apparently, and I'd assume landlords also wouldn't want it known that they're the sort who will just drop prospective tennants in favour of someone else with more cash to splash?


Well I'm certainly wondering why you aren't just buying if you've got enough for a deposit already. Everyone is so keen to make fun of me for renting because "it's such a waste of money and costs you more in the long run"... but I don't have deposit money, so I'm curious as to why you'd 'waste' your money...

But it isn't jumping a queue though. There is never a "queue" when applying for rentals. Landlords will generally either take the first offer that ticks all their boxes OR wait till they have multiple offers, assess them all and go with the one they prefer out of them all. If you think they do it any other way you're extremely naive.

If I (or anyone for that matter) put together an offer which the landlord prefers over someone else's, whether that be paying more rent than asked, or paying for the entire rent up front, then its down to the landlord to decide, its not done on a first come, first serve queue basis :cry::cry::cry:

And not that I need to justify myself to you, I will do anyway. Myself and my partner have been in Australia for 5 years and only returned in November. Despite having more than enough money for a deposit/mortgage now we unfortunately don't have sufficient proof of earnings/salary in the UK to satisfy a bank atm, hence why we're renting for a short while.

Trust me, i'd rather not be renting!
 
Soldato
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What are you on about. Private landlords are not social housing providers, they dont have 'queues'.

They assess applicants and pick a tenant that meets their criteria balanced against risk (Be that enlmployment, income, criminal convictions, credit checks, references etc)

Offering 12 months of upfront rent effectively removes or seriously mitigates against one of those risks - Ability to pay the rent (FYI this is likely top of the list for most private landlords)

It's not uncommon for a landlord to ask for upfront rental payments from a prospective tenant who has unproven income or questionable employment status.

If it makes the tenant more attractive to a prospective landlord then thats what the OP hopes to achieve.

I'm a private landlord and being first to apply means nothing.

Ahhhh you summarised my point perfectly! Thanks :D

I too am a private landlord also and echo your final point.
 
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