Before signing the Tenancy Agreement, the tenant will pay to The Letting Factory one month’s rent in advance and five weeks deposit.

The Tenant is given a standing order mandate which they hand into their bank for future monthly rent payments.

Tenant Find Properties

Once the Tenant has moved in, the responsibility for rent collection each month is the Landlords.

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Managed Properties

The Letting Factory collects the rent monthly, and accounts to you on a monthly basis deducting any fees or expenditures from the rent, and pay any remaining balance into the Landlords account by way of electronic bank transfer.

Some tenants choose to pay rent in advance. In this case, the rent is still paid to the Landlord monthly, and the rest kept in a non interest making bank account as a fund to cover any expenditure for works carried out during the tenancy.

A Landlords Statement will be sent out to you each month by email, this can be used to give to your accountant for tax purposes.

Should a tenant pay late, we will advise you of this, and pay you the rent when received.  In common with all Letting Agents, we cannot be liable for non-payment of rent.

The Letting Factory can however offer you Rent Guarantee and Legal Expenses Insurance. This is included in our Managed Plus Service, thus guaranteeing consistency of rent payments and in some cases empty void months.