DPS - what to do with one tenant remaining

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    DPS - what to do with one tenant remaining

    Hi

    Sorry yet more questions.

    One of our existing joint tenants is leaving, and the other will stay on with another (new) joint tenant, for which we will put in place a new AST agreement.

    The existing tenancy was arranged via an agent, and the deposit apparently protected under the DPS by the agent.

    I am not intending to use the agent for the new tenancy, and have changed the amount of the deposit.

    The agent is saying that "we would only return the deposit to PARTY A when PARTY B leaves or we are in receipt of another half of the deposit.

    The best solution is that PARTY B pays back PARTY A half of the deposit when he leaves."

    I dont know much about this, but it sounds wrong. Is it?

    As we will enter into an entirely new tenancy I was intending to receive and protect and entirely separate deposit. No doubt this is far too simplistic! Please help me sort this out!

    #2
    Originally posted by Sinbad View Post
    Hi

    Sorry yet more questions.

    One of our existing joint tenants is leaving, and the other will stay on with another (new) joint tenant, for which we will put in place a new AST agreement.

    The existing tenancy was arranged via an agent, and the deposit apparently protected under the DPS by the agent.

    I am not intending to use the agent for the new tenancy, and have changed the amount of the deposit.

    The agent is saying that "we would only return the deposit to PARTY A when PARTY B leaves or we are in receipt of another half of the deposit.

    The best solution is that PARTY B pays back PARTY A half of the deposit when he leaves."

    I dont know much about this, but it sounds wrong. Is it?

    As we will enter into an entirely new tenancy I was intending to receive and protect and entirely separate deposit. No doubt this is far too simplistic! Please help me sort this out!
    Just been through this - wasn't the most smoothest transaction ever, but we got there in the end. In this case, the new tenant paid the agent her half of the deposit and the agent returned the departing tenants deposit minus dilapidations of his room - the rest of the flat was fine.
    ASSUME NOTHING - QUESTION EVERYTHING!

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      #3
      Thanks. So it does seem to occur. I guess fundamentally I just dont want the agent to have anything to do with it, though!

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