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. 

Change of tenant within an existing tenancy – Cost breakdown

The following fees apply to the new tenant joining an existing tenancy or replacing a tenant within an existing tenancy:

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Important information
regarding the hand-over

Please refer to the following guidelines in order that there are no misunderstandings regarding the departure from the property and your responsibilities.

Before paying your portion of the deposit to the outgoing tenant, the incoming tenant must make sure the property is in good condition in accordance with these guidelines and by checking the inventory – once they have handed over their deposit, they have taken on liability for the condition of the property.

Ideal change of Tenant procedure

How do we expect
departure to work?


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.


We recommend holding handover of keys until the incoming tenant has settled the portion of your deposit, and you can see it in your account.

Council Tax and Bills

These really have nothing to do with us, we recommend settling all bills in advance, and keeping track of meter readings.

Contract / Responsibility

You are jointly liable for:

  • The condition of the entire property
  • The timely payment of the entire rent
It is in everyone’s interests that you work together to maintain these two key points

New Tenant

Check our guide to help new tenants prepare to move into their new home

Departure guidelines

Findlay property standard depature guidelines

Download Tenant Application Form