Entitlement of partial refund of tenants deposit

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    Entitlement of partial refund of tenants deposit

    One of our 1 year AST agreements is coming to the end in 1 weeks.
    Our Tenants want to stay for now , and change to monthly .
    We are happy with this. Tenants originally placed 2 months rent dep in tenancy dep scheme.
    Are we obliged to automatically return any excess of 5 weeks deposit?
    thanks

    #2
    No, in fact you need do nothing. As soon as the old AST ends it automatically becomes at SPT (Statutory Periodic Tenancy) whereby the tenancy continues observing the same terms and conditions as set out in the original AST.

    I hope that helps.



    Freedom at the point of zero............

    Comment


      #3
      The truth is, no one knows for certain.
      It doesn't appear to be the case, but the legislation is not 100% clear.

      To be completely risk free, you could return enough of the deposit to keep it at 5 weeks, although I haven't done that in the same situation, personally.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

      Comment

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