Hi, my tenants are separating and one of them wishes to remain believing they can meet the payments. A guarantor was provided on the original tenancy due to the results of the finance checks and they have always kept up to date with their rent.What should I do from a legal perspective in terms of the tenancy and the guarantor. The guarantor is related to the individual who wants to stay. Many thanks
I am no expert but would do a new agreement with the remaining tenant and guarantor I think the leaving tenant should sign a surender of lease doccument
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As Colin says you need to start again on the paperwork from the beginning that includes your initial Tenant checks, absolutely everything as if you were taking on someone brand-new all over again as usually in these situations the remaining person cannot afford to pay the rent on paper and then it all goes Pete Tong
What you should do is talk to both current tenants and view their situation regarding rent, liabilities to you and the deposit
1 Do an inspection and inventory check
2 Any items damaged, worn over fair wear and tear should be charged to both tennant’s, joint and several
3 Involve the guarantor
4 Do a rent assessment vv the tenants net monthly worth including loans, credit cards etc or just get a credit check done by a company. If they come up okay then take out a 12 month rent guarantee. It Often includes legal assistance.
5 Get a new AST with guarantor who owns their own house
6 credit check them also.
7 Get the new inventory signed
8 Change the name of the tenant on the deposit scheme with agreement from the other tenant
9 Provide your tenant all the latest DPS tenant information via email or point them to the site, keep evidence of this.
10 get confirmation they have read and seen 9, if not this could affect any eviction later. Keep copy