Hi,
Does anyone know if I am I able to ask MyDeposits to transfer a custodial deposit back to the tenants in equal shares rather than to the Lead tenant only? It’s not clear from the website and this is the first time I used OpenRent and a custodial scheme. The tenants all paid equal amounts through OpenRent but have now fallen out and the Lead tenant is threatening to withhold one of the other tenant’s deposits.
Thanks
You don’t give us any info as to why they’ve fallen out, but it seems obvious that you are going to either let them all leave or start a new tenancy with only some of the current occupants. I wouldn’t get involved. They signed up for a process that releases the deposit to the lead tenant. The dispute is between the two of them and you aren’t required to mediate.
Maybe consider an insurance deposit next time, it gives you more control. [Personally I find MyDeposits the most useless, biased, unprofessional collection of incompetents].
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