We have a non housing act tenancy agreement as we let a residential property under a company. We moved in, in April 2014. As the company is just over a year old, we paid 6 months upfront with a one month deposit. Our own credit ratings are poor as we are on repayment plans for debts built up when we lost our old jobs and started our new business. The rental agreement states that we will commence monthly rental from September (one month before the 6 months is up), in effect giving the landlord 2 month deposit. We signed the agreement on this basis and verbally confirmed it with the letting agent.
The landlord said he now wants another 5 months in advance from September or he will serve notice to quit. We tried negotiating with him explaining we had budgeted for monthly rent and how we have just got all 3 kids settled into local school / nursery, so could we at least stay until we find another house in the area? The answer was no.
We then offered quarterly rent in advance from October alongside monthly payments from November (ie he will always hold 4 months rent). No – he wants 5 months upfront from September or we are out. He has now sent the notice to quit apparently.
We can afford the monthly rent no problem (via the company), we are not in arrears with the rent and we will struggle to find anywhere else as we do not have 6 months rent to pay in advance there, we have no suitable guarantor and would fail a credit check. We will in effect be made homeless. We told the landlord this. The answer was still no!
As tenants we are a quiet family, we get on very well with the neighbours and the house is spotlessly clean. The landlord lives overseas and would just rent the property out to new tenants when we leave.
Any advice on what to do would be gratefully received before my wife and I and our 3 children find ourselves out on the street.