Pointer on Rent Pay Dates and S21.

[Carryon Regardless]

This was something I picked up on with my recent service of a S21.

We are required to serve a S21 notice to arrive prior to the end of a tenancy period, so to be sure we would want the T to have it a couple of days before this.

Very often rents are due payable on the 1st day of a tenancy period.

By serving the S21 often the T will see this as an instruction to stop further payments.

For other reasons I organise for all my tenancy periods to commence on the 1st of each month, the AST details that rental payments are for the period starting the 1st of each month and ending the last day of each month. The commencement of the original tenancy or the date of payment now has no bearing on what is the tenancy period.

Standing orders are payable on the 20th of the preceding month, so should arrive in my bank by the 25th(ish)

An advantage of this is that by the time I serve a S21 (later than the 20th but before the months last day) the payment of that month will, hopefully, already be in my bank, 1 less months rent to try and recover later.

[Richlist]

Doesn't the presence of rent gauantee insurance or a home owning gaurantor solve your risk of lost rental income ?

[Carryon Regardless]

AS yet I have no interest in RGI, like check in, check out costs I view that the dosh can go in a pot that I have control of, rather than hope an insurance co, DPS, or a Judge will share my opinion of a situation.

G'tors have great value in my mind but more for prevention by threatening them with the financial burden and then let them do the dirty work. Finding a 'home' owning G'tor is sometimes difficult and even if they were they may not be when called on, or so much in debt your wasting your time.

I only count the money in the bank, the rest may well be fantasy.