Residential Rent Payment Frequency

[Perry]

What's your preferred payment frequency? Why?

Any PT forumite allow/offer monthly payment
on residential rentals?

What's your preferred payment method?

Any PT forumite do a cash collection in some way?

Note:
Catch-ups and start-up arrangements may differ,
so I'm not referring to them. Just the 'normal' or
regular methods used.
.

[House_of_Cards]

Automatic payment has to be far superior to other methods of payment and allow you to see immediately if there is a problem. Weekly/ fortnightly I would say best would be same frequency tennant is paid, because then they should have money go out on the night after their money goes in.

[Rolf]

You cannot collect residential rent on a monthly basis, unless you allow the tenant to be in arrears. You are only allowed to receive rent up to 2 weeks in advance.

Personally I always require automatic payment only, and either weekly or fortnightly in advance.

[Tan]

You are only allowed to receive rent up to 2 weeks in advance.

The act states

23 Rent in advance
(1) A landlord shall not require the payment of any rent—
(a) more than 2 weeks in advance; or
(b) before the expiry of the period for which rent has been paid already.

I take that to mean that if the tenant wants it, that's fine. Anything to line it up with a pay day.

[graemeh]

I have had one tenant who wanted to pay monthly in advance. I didn't require this, he wanted it as it matched the cycle for him to claim expenses from his employer.

Another tenant got me to invoice his employer direct, at one point they were 6 weeks ahead in their payments as they wanted me to send the invoices well in advance.

I've even had one who paid in cash for quite a while.

I'll take any form of payment offered If I was dealing with $250/week rentals then I'd probably be a lot lazier and insist they pay it to my account either by AP or by depositing the cash themselves.

[Keys]

Don't care. Tenant chooses. Whatever is easier for them. Don't bother on a particular day either. As long as there is an initial catch up to compensate and get into the regular payment schedule.

[Perry]

The RTA states

23 Rent in advance
(1) A landlord shall not require the payment of any rent—
(a) more than 2 weeks in advance; or
(b) before the expiry of the period for which rent has been paid already.

I take that to mean that if the tenant wants it, that's fine. Anything to line it up with a pay day.

Can you clarify, please? If the tenant
wants what?

Is there any case law that deals with
the matter? I.e. if the LL does not re-
quire it; but the tenant does, would
accepting that be an unlawful act by
the LL?
.

[Tan]

From my laymans point of view, I take it to mean the landlord can't insist, but if the tenant wants rent paid in advance monthly then that's OK.

I seem to recall a story about a tenant paying a year in advance for some reason, and that was fine.

[Perry]

Don't bother on a particular day either.

I encourage Wednesday with Thursday as my
second choice. The Silly Season is fraught
for tenants. Friday rent days are frequently
snared by long weekend holidays. That may
mean 5 days before a missed rent payment
is detected after the first AP processing day,
following the long holiday.

If I can't get Wednesday or Thursday
.

[Perry]

From my laymans point of view, I take it to mean the landlord can't insist, but if the tenant wants rent paid in advance monthly then that's OK.

I seem to recall a story about a tenant paying a year in advance for some reason, and that was fine.

I tend to that viewpoint, too. But . . .
Maybe it's one of those things that's
all OK while everything's OK. But
the RTA says that a tenant cannot
give up any rights under the Act.

I'd be shocked if a TT Adjudicator
was using common sense. Now
that would be a very dangerous
precedent. We might come to
expect it!

[Devious0]

I prefer payment on a Thursday as the mortgage goes out on the Friday, have surplus funds to cover if the tenant doesn't pay on time but ultimately the tenant chooses the day and frequency to suit their pay day and always by automatic payment

[House_of_Cards]

I'll take any form of payment offered

Monopoly money?

But, serious for a moment, read somewhere you should get tennant to use their address as ref for automatic payment in case you are audited so it is all nice and clear, so does getting paid in cash pose a problem in any way for this? And if paid in cash you have to receipt each payment right? Sounds like a hassle ...

[flyernzl]

Weekly, always weekly.
I'd go daily if that was possible.
If the tenant is running into a cash-flow problem, the sooner you know about it the better.

[blacksheep15]

From my laymans point of view, I take it to mean the landlord can't insist, but if the tenant wants rent paid in advance monthly then that's OK.

I seem to recall a story about a tenant paying a year in advance for some reason, and that was fine.

That was me that received a year in advance, on checking with DBH they said it was fine as the tenant had offered it. Well, not exactly offered it, it just arrived in my bank account. I asked to get that answer from them in writing (just in case), that was nearly a year ago and the tenant is now due to move out, still no letter from them. All good with the tenant though.

I have a couple that pay monthly as they get paid monthly so it makes life easier for them. It would be fairly unethical/unfair/unkind of a tenant to take you to the TT for paying monthly when it was their idea! Does anyone have any experience of this situation occurring? Surely the adjudicator could see through that........