Hi I have a 2 bedroom flat for rent. I received an offer from two people who are friends and I am not sure if the deposit is to be split between the two or just hold from one person? Or should I ask to them? what is your suggestion please?
Is the tenancy agreement going to be in both names?
If so i would imagine (im not a ll so some of the experiences ones will advise) tou would have save it seperate under however much for each am just thinking what if one were to move out and wanted his/her deposit back
If its one tenancy agreement signed by both of them, the first named will be the lead tenant, and you’ll register them as such with the deposit scheme. If you are using RentNow, this will happen automatically, so dont stress.
ah thanks that’s exactly what happened. and to be clear yes they are both on the contract
Karl - how does that affect things legally at the end of a tenancy - does it get returned to the lead tenant? What about if there are any “issues” would the LL require both tenants agree if a dispute or just the lead?
usually if there are two or more named people on the tenancy agreement - either of them can give notice - and the other has to move out or ask for a new tenancy agreement.
This is important for landlords to know how to manage - as relationship breakdown is all to common.
Both tenant are usually fully liable for the rent - and that means if one leaves they can end up liable for rent for the one that remains if they can’t pay (as their liability under the tenancy usually only ends with vacant possession.
Usually you should end the tenancy and get a remaining tenant to sign a new agreement. The deposit is returned to the person who paid it - and the remaining tenant if asking for a new agreement pays a new deposit - based on the amount of the newly agreed rent.
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The lead makes the decisions. I’m sure the tenancy agreement explains this to them etc,
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Ah interesting. Im not a joint tenant but didn’t know that. So what if they both paid half the deposit but from a joint bank account? How does that work? Is the lead tenant still the one who decides at the end?
Joint tenancies sound dodgy. What happens if one leaves and doesn’t pay!! Nightmare!
What does your tenancy agreement say or the information from the company who hold your deposit?
Both are liable. Not at all dodgy if you are in a relationship
Im not asking about me, I’m asking out of interest.
Well it is if you break up as you just said. one leaves and vanishes when tenancy hadn’t ended and they’ve both always paid half each, one carries on paying half but cant afford it all… left to deal with all the grief! Law needs changing there. must be many poor soles left with ex’s debts I’d imagine, no?
How would you propose changing the law? I hope this isn’t another thing Landlords would have to be liable for
Are you proposing that rent is halved if one tenant leaves?