Tenant wants to pay for a 6 month lease up front, should I do it

[Lee V.]

A 20 year old college student is wanting to rent my cottage for 6 months because she graduates this year and is planning on moving out of state. Her grandfather will be paying me the full amount up front. She is currently living in an apartment complexes and her grandfather was paying all of her rent there too. The apartment lease is now up so she needs a place to stay for 6 months until she graduates. 

Assuming her current t apartment gives her a good recommendation, and she seems like a good person and clears backround credit check.

Would this be a good idea?

[Greg H.]

Originally posted by @Thomas S.:

Absolutely do not accept the money. If you do you will need to keep it in a separate account and only draw out the money each month when the rent is due. The money remains the property of the tenant until the rent is due each month. Your tenant may also demand the remaining money back at any point in time. 

Our business operates by the month, no reason to change.

 I can only speak for Texas. You do not need to keep in a separate account and there is no statute requiring a landlord to return rent if asked for.  If the tenant vacated early, the rent and deposit would be returned minus all deductions within 30 days of move out and providing a forwarding address which is no different from any other payment arrangement 

Would I do this deal?  Depends on how easy it would be to rent the property again in the Dec/Jan timeframe which is typically slower most other times of the year