I let a flat through an agency. It's a 2 bed with 2 sharers. The one guy doesn't pass financial referencing so pays his share 6 months upfront. The other pays monthly. There is only one TA though.
The TA is now up and the agent tells me that if I allow it to go to a periodic tenancy, both payments would be made monthly, even though that would be a change in conditions in effect. Also, it also means that my LL insurance rent guarantee would be invalidated.
But if I get a new TA (which they want the best part of £200 for!) I have to start again with all the paperwork, references etc to make sure the insurance is valid.
I am trying to get answers from the agent but they are not being very communicative.
Further, I spoke to the agent that I get my insurance through today and he told me that the arrangement (one tenant paying upfront, the other monthly) would probably invalidate the rent guarantee insurance anyway, although I really can't see why that would be the case and he couldn't tell me why.
I don't know if anyone can offer any advice at all. Just seems there's problems whichever way I turn!