Urgent! Propective tenant changed their mind after signing tenancy agreement

URGENT - ADVICE NEEDED! A prospective tenant signed a tenancy agreement and paid one month’s rent. Due to certain circumstances they have since changed their mind about renting the property and no longer want to go ahead. They never moved in and want the tenancy to be cancelled. Is this possible? If so, how can they go about it? Thanks for any advice.

It is a legally binding contract for 6 or 12 months, but when this has happened to me, I came to an agreement that they can move out whenever they want, and as soon as I find another tenant I’ll put them in and they’re liable for the rent up to the date the new tenant moves in plus any readvertising costs etc
It’s a real pain if you stick to the letter of the agreement and keep him there when he doesn’t want to be. You’ll probably not get paid
The deposit should cover you for any costs he doesn’t pay
Realistic not legalistic!

I would let him surrender the tenancy rather than force him to stay.

Tricky situation, I’m sorry that’s happened. I think I would personally generate another formal letter stating that they have requested to cancel the tenancy and a specific date it will end and both sign this. I would personally just try and find other tenants and ask them to honour payment of rent until tenants are found which will hopefully not be long. Good luck!