Can a landlord sell their rental income from a tenant to a third party? I am thinking about a new business venture, my idea is to create a professional vetting service which helps landlord vet their potential tenants, if a tenant passes the vetting process, I will offer the landlord 80% of 12 month of rent payments up front, and the tenant will subsequently pay me 100% of the rent as agreed in the tenancy agreement over a period of 12 months. So if the lease states $1500 per month for 12 month ($18,000), my company will pay the landlord $18,000 x 80% = $14,400 dollars up front, and the tenant will pay me $1500 per month, in the end if the tenant fully pays 12 month rent, I will make 18,000 - 14,400 = $3600 in profit. If the tenant stops paying, then I lose out, so I take on the risk of non-payment. However, the problem I am running into is how to structure the agreeement(s) between my company, the landlord, and the tenant. How would the lease agreement work in this example? Would my company sign an agreement with the landlord, stating that my company has the right to lease the property, to collect payment, and evict the tenant if there is non-payment? And would my company then sign a lease agreement with the tenant? So that the tenant will pay me the monthly rent amount.
The tenant wouldn't be involved in this at all. The tenant rents from the landlord, and the landlord gives them an account number where the tenant sends the money every month. How would the tenant be involved with you? Actually, if I was the tenant and I was told to pay the rent to some third party, that would be the reddest of all red flags to me. As a landlord, you buy insurance that covers exactly that situation. It's called &quot;rent guarantee insurance&quot;. It's cheaper, and the insurance company doesn't pay enormous sums up front.
Can a landlord (UK, English law) make a claim from a potential tenant who wants to back out of signing a Tenancy Agreement? No. Your description reflects that in this particular scenario there is no tenancy contract. The only actual contract relates to the holding deposit, and your description suggests that both parties fully complied with their obligations pursuant to that contract. Accordingly, neither party has a viable claim against the other. Regardless of whether verbal agreements are cognizable under UK tenancy law, the meeting of the minds you portray is that this tenancy ought to be formalized only by signing a contract. That supersedes customer's prior verbal expressions of intent about moving in. The landlord incurred expenses that either were covered by the customer's holding deposit or were unreasonable. An example of the latter is the fees &quot;landlord has paid for the dates on the contract to be changed (repeatedly)&quot;, a task that any person can perform with a text editor at a negligible cost. Likewise, &quot;turn[ing] down other potential tenants&quot; is covered by the holding deposit the customer paid. As for taking &quot;a detailed inventory&quot;, that is a task the landlord would perform with any potential tenant and which would render the same outcome regardless of who the tenant would be. The holding deposit must be associated to a deadline or holding period. Beyond that deadline, it is up to the landlord to grant customer's requests for postponement. But the landlord is not entitled to compensation for a risk he deliberately took without even requiring a [renewed] holding deposit. what's the situation if the tenant still claims they want to move in, but the landlord wants to withdraw because they no longer trusts the tenant's promises? That depends on the deadline associated to the holding deposit. Once the holding period has elapsed, the landlord is entitled to do with his property whatever he wants. The customer would have a claim only if (1) landlord withdraws prior to the deadline and (2) customer provably intended to move in.
The law regarding landlords and tenants is Iowa Code Ch. 562A. Part 2 (§562A.27 et seq.) states the legal remedies available to a landlord. §562A.27 specifically spells out the remedies for material non-compliance with lease terms. The gist of that and related sections is that if a person is in violation of a lease, there is a legal process that has to be followed, and if successful, the sheriff will forcibly evict the tenant (though §562A.27A, the clear and present danger section, shortens the process – still, it's not immediate and it does require legal notice etc.). Under the law, you (apparently) have become a landlord and have an unwritten tenancy agreement with the tenant. I assume based on your description of the facts you have a long-term written agreement with the property owner. By allowing this person to live with you, you have entered into a landlord-tenant relationship, which limits your rights. The police will not respond to this situation – a legal squabble – whereas if someone broke into your residence and was trespassing (and you complain in a timely manner, not allowing the person to trespass), the police would respond and not require a court order. §562A.9(5) states that in lieu of a specific term of tenancy, in the case of a roomer paying weekly rent the tenanct period is a week, otherwise it is a month. §562A.6 defines "roomer": basically, if you are a "roomer", so is your sub-lessor. By agreeing to let the person stay with you, you have become a landlord and sub-lessor, thereby subject to the restrictions on landlord actions. That means you have to take the person to court to get rid of them. Failure to pay agreed-on rent is certainly sufficient legal cause, and any monthly lease can be terminated by the landlord after giving legal notice (30 days advance notice).
If the tenant finds a new place to live before the end of the two months' notice and wishes to leave early, is the tenant required to [give] one month's notice that they are leaving? No, the tenant is not required to give notice if they has already received notice from the landlord. In addition, the tenant is required to pay rent up to the end of the notice period, even if they move out sooner (for now; but see also below). If they don't move out, they must still pay the rent. If the tenant...moves out of the property half way through their rental period, can the tenant claim a refund on the rent already paid which reflects the time between when they left the property and when the rental period would expire? For a tenancy which started before 1 October 2015, there is no automatic right to a refund. The tenant can of course ask the landlord for one, though the landlord would only be obliged to refund rent if a new tenant moves in before the end of that period. For tenancies made after 1 October 2015, s35 of the Deregulation Act 2015 amends s21 of the Housing Act 1988 to allow the 2 months' notice to end on any day (after the end of a fixed term), not just the end of a rental period. s40 then adds a new section which requires the landlord to repay any rent applying during that final period, but after the tenant moves out. If the tenant is not in a strong enough financial position to put together enough money for the deposit for their next home, or have simply been unsuccessful in finding a property which is suitable based on their current income, what course of action should they take? Firstly, the date specified in a s21 notice is not the date by which the tenant must move out -- even though, in practice, this is how it is normally treated. Instead, it is earliest date on which the landlord can begin legal proceedings. So, after that date, there is likely to be a delay until the case can appear before a court. The judge has some discretion as to when the tenancy will actually end, so you can ask for a little more time -- but note that the only way to prevent an eviction under s21 is to show that the landlord failed to follow the correct procedure. See also Shelter's comprehensive guide on the subject for more details.
The owner would need to go through the eviction process, and would need to show that the tenant had violated the terms of the agreement. Conceivably, a tenant could be evicted for using the property to carry out a criminal enterprise, but the courts would have to decide if that is the case. The underlying issue would be whether allowing the tenant to remain would constitute a public nuisance threatening public safety and morals and would cause damage to the owner in the form of loss of value in the property. The owner's attorney would study the specifics and give an appraisal of the likelihood of succeeding in court.
In most jurisdictions, yes, you must give 30 days notice; this is a statutory requirement incumbent on both parties. This (your rental type) is a tenancy-at-will. If you pay rent monthly (on 1st) then this is the period of time required for notice to vacate. In some jurisdictions 30 days is required no matter what intervals you may rent (say weekly), other jurisdictions if you pay rent weekly then a week's notice is all that's necessary. This is In the absence of a rental agreement setting forth another agreed to term. See this question: If no prior contracts have been signed, can a landlord make tenants sign after a week of tenancy? It is not the same but there is some information on this type of tenancy.
In general, the words "due on" take on their ordinary meaning - that is, that the performance of a contract is required on or before the date specified. If it is not specified in the contract, a court will look to what is reasonable in the circumstances. For instance, if payment is due to a company that trades 24 hours a day including the day payment was due, then payment up until midnight may be found acceptable. However, if it is not known to the person making the payment that the business has such extended hours, and especially if it is known that the business has normal hours, then payment after close of business would likely not be reasonable. To your question, and having reviewed some Canadian residential rent legislation, although none define due on specifically - and I would not expect them to do so - most have clauses which provide for termination, and they only refer to serving notice either a certain number of days after rent falls due, or the day after rent falls due. This would tend to support my assertion that rent is payable on or before the specified date, unless the contract says otherwise, in line with the above considerations. NB: While rent is usually payable in advance, this simply means that you are paying for the occupancy during that follows, or substantially follows, rather than the period that has elapsed.
Can I just not renew their contract and go back to my place in 2 months or do I still need to give them 6 months' notice? Short answer: 6 months' notice Long answer: I'm assuming this is a fixed-term Assured Shorthold Tenancy. Unless a landlord is going down the Section 8 route where the tenant has broken the tenancy agreement, they will need to serve a &quot;Section 21 Notice&quot; under the Housing Act 1988 requesting the tenant to leave a property. The Act has been amended to extend this notice period to 6 months, and any fixed-term tenancy that ends during that period will roll over to a periodic tenancy until the end of the notice period. This is the relevant extract from the government's website: Section 21 notices requiring possession of a property under an assured shorthold tenancy Landlords can only use a Section 21 notice to ask their tenants to leave their property: If the notice expires at or after the end of the fixed term. During a tenancy with no fixed end date - known as a ‘periodic’ tenancy. From 29 August 2020, a Section 21 notice must give tenants at least 6 months’ notice of the fact that the landlord requires possession. This give some more detail about s.21 Notices.