I have great tenants who are currently going through some financial difficulty, and i have offered to release their deposit back to them early during the tenancy to help them.
Frustratingly, mydeposits will not allow me to release the deposit back to them unless the tenancy is ended, however we do not want to end the tenancy, i simply do not wish to hold a security deposit against them any longer.
Is the only way to do this to end the tenancy, release the deposit, and then set up a new tenancy with zero deposit?
Thanks David, the lady on the phone at mydeposits said it couldn’t be done so i’ve sent them an email with the tenancy/deposit details to request the release.
Surprised there is not a straightforward option during the tenancy to adjust the amount, or pay in full/in part back to landlord or tenant.