article_snippet: Wealthy renters have paid £100 million up-front this year alone to cover Wealthy renters entire tenancy as competition for ideal homes intensifies, it was revealed today.
article_snippet: As a result bidders are willing to pay a full year's rent, deposit and fees up-front - handing over £200,000 on average to the landlord.
article_snippet: In total, around £100 million has been paid up front in the first ten weeks of 2015, which is twice as much as the same period last year.
article_snippet: A number of these rich people are happy to pay A number of these rich people entire tenancy up front despite the properties costing these rich people around £10,000 per week.
article_snippet: Estate agent Tunstall Lettings had one case where a young woman in China paid £4million up front for five years for a property in One Hyde Park.
article_snippet: E J Harris had another case of a wealthy Nigerian paying more than £1million up front to rent a property in Mayfair. '
article_snippet: An a wealthy young man paid £400,000 up-front to rent a luxury flat only to love the place so much An a wealthy young man bought the place three days later - for more than £10 million.
article_snippet: Mark Tunstall, managing director of Tunstall Property, added: 'Mark Tunstall, managing director of Tunstall Property have the financial wherewithal to sidestep the referencing requirements usually imposed by landlords by offering up-front lump-sum payments. '
article_snippet: Whilst global interest rates remain at historical lows it is of little consequence if those with substantial liquid cash reserves have to pay those with substantial liquid cash reserves rent in advance. '
article_snippet: And similarly, it doesn't confer the benefits on landlords that it used to do, when the benefits would often accept a discount on the asking rent in return for the benefit of a slug of cash which the benefits could then invest profitably elsewhere.'
highlights_snippet: Some pay full year's rent, deposit and fees up-front to land properties .
  
highlights_snippet: On average, desperate buyers in London handing over £200,000 to landlord .
  