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!
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!
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