I had 2 people who rented, had tenancy agreement. It ends on 6th of August. 1 wants to say on and move partner in (ie replacing previous person). Therefore I think I need to create new tenancy agreement for these 2 people as of the 7th.
She paid the original deposit which I put in the DPS but it has both original tenants names on it as they are both on the original tenancy agreement. Do I need to refund it and then somehow ‘deposit’ it as a new deposit back with the DPS linked to the new agreement?
ie I effectively just want to ‘transfer’ the deposit from the old agreement to the new one linked to the new tenancy agreement. How do I do that? seems daft to have to refund it then for her to repay it?
Not an expert but I’m pretty sure it can be done. Perhaps speaking to TDS will get you a detailed to do list.
I think it involves notifying TFS to repay the deposit (part of) to the person moving out, accepting new portion of deposit from new tenant and changing the names to the 2 new tenants (which should be done in all cases).
Hope that starts you off in right direction
I had a similar thing the existing tenants moved into a new property, so wanted to just change the address on the DPS.
So I created a new contract and a completely new DPS. Asked the tenant to give all the deposit to me which he did, then I used that to create a new one at the new address.
So its when you complete the tenancy and ask for DPS to give you all the deposit.