My tenants have been notified by Openrent that only 5 weeks deposit is required and so one week needs to be paid back to them. I have been on the DPS site, but it’s unclear how to landlords can reduce the deposit from 6 to 5 weeks. Has anyone found a way to do this? Thank you, ruth
If the AST agreement (assuming it is an AST) was signed before 1 June 2019, then the over payment does not need to be refunded before 1 June 2020. There is a twelve month transition period for all tenancies that were already in place prior to the Tenants Fees Act becoming law.
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We are proposing to sign a new tenancy agreement with our current tenants to renew their tenancy. We currently hold a deposit through DPS. We will need to reduce the amount of the deposit held, because of the Tenant Fees Act. We also need to ensure that DPS has details of the new tenancy agreement and that the retained balance of the deposit is allocated to the new agreement. How do I do all of that?
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