Info on rent allowance

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lurcher

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I am letting a house to a lady with one child,i have accepted a deposit & told her i will except rent allowance.She will give me the forms for rent allowance shortly & i need to fill out my part as landlord.
I am just wondering how does the rent allowance work exactly as this is my first time excepting it.Oviously i am declaring rental income to revenue.
Lurcher.
 
My advice is to tell her that her contract is direct with you and that rent must be paid up front - RA is normally paid in arrears & causes problems when the tenant moves out. It is possible to get the chq made payable to you and for her to pay the balance, but she must ask them to do that (unless it has changed in the last few years).
Other than that, hopefully all will go well, I often find this set-up (single mum + child) makes an ideal tenant as they are really looking to make the place a home - rather than a group of professionals who often go their separate ways.
 
When you are filling up the rent allowance forms put a note on it to have it paid to you , they will do it by cheque or direct debit.
Get the tenant to set up a direct debit ( weekly ) into you bank account as well so the balcnace will be paid.
Rent allowance comes at the end of every week but at least it comes in
 
Having been a landlord for the last couple of years, I've resisted having RA because having to wait till the end of the month for your money.
I never thought about having tenants pay every week but it does make sense if you are taking RA tenants to do it on a weekly basis.
 
RA comes in whatever way the rent is to be paid - so it can either be paid weekly or monthly.
 
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