We are part way through a 12 mth AST. The tenants are separating and one plans on moving out. Is there a way of amending the existing tenancy agreement to remove one of the tenants. If I have to Create a new tenancy Can the existing inventory and the existing security deposit remain valid. Thoughts and advice appreciated
Just a tenant here with no landlord experience, but since no-one else has replied…
I believe that the position is that they are obliged to either renegotiate the tenancy, or they both remain on it until there is a break clause (or the AST ends). I guess is the main issue will be the deposit - the party moving out will probably want their portion of it back, in which case there’s not much choice but to end the tenancy early and do the usual checks… the terms of which I’d imagine will be covered in your existing agreement?
Essentially, it’s their decision to go their separate ways - you can obviously show some sensitivity and flexibility if you like (break-ups are never easy!), but that’s down to you.
I’m sure someone that has some experience of these issues can clarify and correct the above where necessary…
Hi, this happened to me and I was forced to end the tenancy and refund the deposit. I then had to raise a new tenancy. The existing references still stand as does the rent protection insurance if you have it, this is in your name not the tenants. It’s a big pain and more expense but no way around it.
This is entirely down to the landlord.
- you need a new tenancy agreement
- the deposit needs putting in the other persons name so this has to be closed down and a new one started. This can easily be done by asking the existing tenants to give 100% to you (note that this is accepting that its all going on damages, but we know its just being done as a convenience).
- Existing inventory can be used if the new tenant signs it so he/she is accepting its content.
If over this process you have received the full rent as you intended then there is no need to invoke any agreement breaks of contract, because you have suffered no losses.
Keeping your tenants happy is your role, theirs is to pay rent.
Yes, buts it the Landlords job. As a landlord I expect to have to do some work.
Yes agree with @Chris50 you need a new agreement but check can the person taking it over on their own actually afford it - I would try to get a guarantor and also maybe some insurance in case of default
Its only a few clicks and a small payment if your are doing it through openrent.