If the Landlord approves a change of tenant, we allow our tenants to find a replacement on the contract with another tenant as long as the incoming tenant passes our credit and reference checks and is approved by the other housemates.
The outgoing tenant remains repsonsible for the rent under the terms of the original contract up to the day the incoming tenant starts their lease.
The deposit is held by Findlay Property and registered with an independent government approved tenancy deposit protection scheme The Tenancy Deposit Scheme (TDS).
We strongly recommend that you formalise the transfer of funds between the incoming and outgoing tenants in a non-verbal way, for example via email, signed letter or promissory note.
Please note that we do not get involved in the funds exchange for the partial deposit transfer, it would need to be sorted out internally between the tenants. After receiving the partial deposit, the outgoing tenant will need to release his set of keys to the incoming tenant.
The outgoing tenant will be cleared of any liability once the new tenant has transferred the deposit part to the outgoing tenant and signed up on the renewed contract.
Once the deposit has been transferred from the old tenant to the new tenant and the contract has been signed we will update the TDS certificate with the new tenant’s name.
The following fees apply to the new tenant joining an existing tenancy or replacing a tenant within an existing tenancy:
Any issues thrown up by an exit inspection would throw up costs in the form of contractors booked to make items good. These costs come from your deposit. To avoid reaching this outcome, we aim to establish clear communication in the form of itemised queries and supporting images, coming from you, for any concerns you may have.
This is what we expect in preparation for a handover, and is a good guide for general upkeep. It spells out what you have signed up to in our agreement:
Please note that our agreement is that you will have reported any dilapidations – wear and tear, damp mould etc – as they progress, so that we can help advice on management. If you have not done so up to this point, now is a good time to raise these issues.
Remember: It’s a very good idea to formalise things, even between friends.