Advanced Rent

Ensuring your income is steady and meets your own needs is a stress for owners of rental properties, but it doesn’t need to be that way.

Advanced Rent

What is Advanced Rent?

With Mashroom, you will be able to collect up to three months’ rent in advance to give you additional flexibility. For those renting in the UK, you will have access to Mashroom’s Advanced Rent as soon as you have received two months’ rent collection. You can choose the date for your rent to suit you, for a small fee.

Once tenants pay your rent, Mashroom will collect the money back.

What is Advanced Rent?

How does this affect my tenant?

Collecting rent in advance does not affect your tenant or how they pay rent, or their rent deposit. The private renting experience is no different from their perspective.

You will not have to ask your tenants to pay rent in advance
We foot the bill and reclaim it when they pay rent

How does this affect my tenant?

Why would I need this?

Maybe you need rent paid in advance, maybe you don’t – it’s up to you. There are a number of reasons you may choose to receive up to three months’ rent in advance.

A lump sum for renovations

A lump sum for renovations

If you’ve got renovations planned, rather than save up over several months, get it done quickly and easily with Advanced Rent.

Investing in another property

Investing in another property

Looking to expand your portfolio and need some cash to cover the costs? Use Advanced Rent to access the needed finances.

Another property has a void period you need to cover

Another property has a void period you need to cover

If you’ve had trouble finding new tenants or you’re making some much-needed updates, Advanced Rent from another property can cover the loss.

How often can I do this?

You are able to access Advanced Rent as soon as you have received two months’ rent from Mashroom’s rental collection. But your tenants must be professionally referenced.

You can access the Advanced Rent collection service every three months. You will receive up to three months’ rent in advance and then you will be able to do the same again in three months’ time.

How often can I do this?

What are the limitations?

You can only collect up to three months’ rent in advance. Rent paid in advance does not mean you have more or less income, just that you receive it in a lump sum, before your tenants pay it.

If you spend the advance and have an unexpected expense in the subsequent three months, you will have to cover it yourself, therefore advance rent requires careful budgeting. We can help with that, with our free Expense Tracker.

What’s more, if your tenant defaults on the rent and Mashroom is out of pocket, and you do not have Rent Guarantee Insurance, then it can cause issues.