Hi, my tenants would like to re-new their AST agreement with me which I was hoping to do through OpenRent Rent Now scheme. Their tenancy began in March last year, i.e. before the new law of having a max of 5 weeks as a deposit, therefore their deposit was fine as being 6 weeks rent. In the renewal form it gives the current and proposed figures for the rent and deposit. In the proposed deposit box it even gives the original deposit amount which was paid, but when I try to proceed with the form, it automatically gives this statement:
By law the deposit must be less than 5 weeks’ rent. Please see here for a full explanation.
Surely I don’t need to change the deposit, if it’s just a renewal and as the AST was set up before the new law, why is the OpenRent renewal form causing this problem? My tenants’ deposit is safely with the DPS, so surely it shouldn’t be changed? Please could someone shed light on this matter - thank you!