Tenant moving from one ptoperty to another, same landlord.

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    Tenant moving from one ptoperty to another, same landlord.

    I have a tenant in a flat and a house coming up shortly which they would like to move to. Can the deposite be transferred to save them having to pay the second one before they get the first one back?

    Good tenants are not easy to find so I want to make it as inexpensive as possible for them to enable the move. I do use a managing agent but thought I would get independant views first.

    #2
    Who is the deposit kept with?

    Is the 'new deposit' on the house the same value as the current one?



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

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      #3
      I had a T move from one property to another. The deposit was with the DPS. I had to give the deposit back to the T and they had to then give it back to me and I had to resecure it with the DPS. What a palaver!

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        #4
        I do not think there is an fact any need to actually transfer funds back and forth. The tenant can give you a receipt saying he has received the deposit for the old property and in exchange you give him a receipt saying you have received the deposit for the new property. The "new" deposit will need to be protected.

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          #5
          Even easier I think is just for the tenant to put in writing that he agrees that the existing deposit can be transferred to be used as deposit fornthe new tenancy.

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            #6
            Originally posted by jjlandlord View Post
            Even easier I think is just for the tenant to put in writing that he agrees that the existing deposit can be transferred to be used as deposit fornthe new tenancy.
            When I tried to do this with DPS I think I found there was no mechanism for doing this... I ended up telling the tenant to take his deposit back and pay it back to me so I could resubmit it.

            Pretty stupid to have to do it; but wasn't that much aggro really as it was all done electronically

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              #7
              Originally posted by Interlaken View Post
              Who is the deposit kept with?

              Is the 'new deposit' on the house the same value as the current one?
              I will have to check with my managing agents as to whom the deposit is lodged with and it is enough to cover a deposit on the other property

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                #8
                Originally posted by Ericthelobster View Post
                When I tried to do this with DPS I think I found there was no mechanism for doing this...
                Thats is what I was worried about, suppose I will have to speak to the agent!

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                  #9
                  Originally posted by Lawcruncher View Post
                  I The "new" deposit will need to be protected.
                  That is the bit the agent will have to do!

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                    #10
                    Originally posted by Jophus View Post
                    That is the bit the agent will have to do!
                    Check he does as you are ultimately responsible.

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                      #11
                      Originally posted by Ericthelobster View Post
                      When I tried to do this with DPS I think I found there was no mechanism for doing this... I ended up telling the tenant to take his deposit back and pay it back to me so I could resubmit it.

                      Pretty stupid to have to do it; but wasn't that much aggro really as it was all done electronically
                      What if the T doesn't pay it back to you? He will already be living in your property and I presume there will be little you can do about it, but even so - the agro...

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