Our contract begins on 1st July, so why is the first quarters rent due on 1st June?
Both dates are relevant but the 1st of June is the date on the second page of your contract when payment is actually due with regard to the quarter commencing 1 July 2007. This is an advanced payment and reflects the difficulty we have in collecting rents if left to 1 July due to most students having already left Canterbury and may be in another country on holiday. When a first payment fails to arrive this is the first indication we have that a student may not be returning or has dropped out. The earlier we can establish this then the less likely there will be a void in the occupancy – hence 1st June. Previously when we requested payment in July a late payment left too little time to establish whether a student would be returning and that a replacement tenant needed to be found very quickly – this caused us a lot of administrative nightmares trying to trace unavailable students who appeared increasingly unlikely to arrive in September by which time it could be too late to find a suitab
