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Hello my name is ***** ***** I will help you with this.
Does the contact allow for replacements?Alex
There is a clause that states:
(a) Any new documentation required in the case whereby the any individual Tenant wishes to vacate the Property or be replaced by a new individual who wishes to occupy the Property and take over the obligations of the Tenant contained herein the costs of the same to be £150 to include the Landlord’s fee for the preparation of a Deed of Assignment.
The rent is being increased however so I would need to start a new AST.
What you need to do is start a new contract. Therefore you get the deposit back and re-protect the deposit when the new tenant moves in.
That way, its clear and above board.
Can I clarify anything for you about this today please? Alex
That was not my question, my question relates to the payment of the deposit.
Can the new tenant pay the old tenant the portion of the deposit that is owed? So I would just re-register the deposit in the new names but keep the original deposit as the new transfer of monies is between new and old tenant...
No. You need to retrieve the deposit and pay it.
Then re-register with money from the new tenant.
Does that clarify? Alex
How can I return the original deposit if they are not all moving out and I cannot carry out a proper inventory check?
I was advised by an agency that in this scenario, the new tenant pays their portion to the old tenant moving out and the new tenant signs a clause that states he is happy to take responsibility for the condition of the property based on the original inventory taken.
If you get the tenant to sign an indemnity saying its in full and final settlement arising out of any and all claims, then that should be ok.
If it were me I would get it out and then protected again. But if you are happy not to do that then you can get an indemnity signed.Does that clarify? Alex