My excellent tenants have split up and want to go their separate ways. One wants to continue to rent the place alone and can pay the rent themselves. The deposit was paid by the leaving tenant.
Should I start a completely new tenancy with the sole person but have their ability to pay Guarenteed?
2 Likes
If the tenancy is in joint names and periodic and one of them serve notice to leave it will end the tenancy for both of them. When the notice period ends you would need to return the deposit to the tenant that paid it and start a new tenancy from scratch.
If the tenancy is in the fixed term both tenants will be liable for the rent during the fixed term. If this is the case you can mutually agree with both tenants to end it by all parties signing a deed of surrender allowing them to end the tenancy early.
Good luck
4 Likes
Yes, that’s the best way forward. Ensure the tenant can afford the rent as a single occupant, perhaps acquire a new reference.
That’s up to you, but if they qualify on income why would you want a guarantor?
If they’ve been excellent tenants, I would think that’s a bit unnecessary. Granted it’s an extra level of security, but I personally would not impose it unless there was a good / necessary reason.
Why wouldnt you want a Guarantor ? The ‘good’ tenant ’ can become a bad one very quickly for lots of reasons .
If they have one fine, but I wouldn’t lose a historically good tenant over it.
If I was renting with impeccable references, I wouldn’t provide a guarantor unless there was a very good reason other than it’s a hot market and you can pick and choose. Furthermore, if a landlord wants to insist upon a guarantor he/she should make it clear in the listing.
@MikeL By that logic, every tenant - single occupant or otherwise, new or existing - should have a guarantor, surely?
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.