How to end the tenancy

If the contract is coming to an end, you’re probably wondering how to end the tenancy. Don’t worry, we’ve got all the information you need.

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The custodial release process

Member initiates release

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Member initiates the release

Member initiates the release

Lead tenant has 30 working days to respond to the release to either:

  • Accept the deposit release terms, funds will be paid within 5 working days.
  • Dispute any deductions, we will keep hold of the disputed amount and pay any undisputed amounts within 5 working days.

Should the tenant fail to respond, we will return the amount claimed by the member within 5 working days.

Lead tenant initiates release

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Tenant initiates the release

Tenant initiates the release

Member has 30 working days to respond to the release to either:

  • Accept the deposit release terms, funds will be paid within 5 working days.
  • Place a counteroffer which will revert the process to ‘Member Release’ on the previous slide.

Should the member fail to respond, we will return the full amount, even if the tenant has stated some is to go back to the member.

The custodial release process

Returning the deposit for insured

Returning the deposit for insured

Step 1

Inform us

Within 30 days of the tenancy ending, you must inform of the status of the deposit protections.

  • Tenancy has ended
  • Periodic tenancy
  • Renewed by giving the same tenants a new fixed term

We will only process a request of the deposit if the deposit amount we are protecting has been received in cleared funds

After 30 days from the end date, we will automatically unprotect the deposit, and send notification to you, the tenant and any interested party.

The tenant will request the deposit back in writing and give you 10 days to respond to the request. You will then have the opportunity to discuss and negotiate any proposed deductions to the deposit.

In the unlikely event of you being unable to agree over the amount to be returned, you can use our free Alternative Dispute Resolution service. It uses impartial and professional adjudicators to help resolve the matter; it’s also cheaper and quicker than using the court.

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End of tenancy options

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Renewal

A new protection IS required when a member gives the same tenant(s) a new fixed term tenancy. The new tenancy may be created by letter, transfer, assignment, memorandum, agreement, or any other device. In this situation the deposit must be renewed/re-protected and the relevant protection fee paid.

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Tenancy ends

If the tenants vacate the property, you will need to unprotect the deposit and inform us of what you have done (returned part or withheld all)

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Periodic tenancy

If the tenant does not sign a new contract but agrees with the landlord or agent to stay, the tenancy will become periodic and continue on a rolling basis – meaning there is no fixed end date. The tenant or the landlord will have to give notice to end the tenancy and agree a date.

Dispute process

You are free to discuss deposit deductions with your tenant when they move out, and you can withhold all/part of the deposit money without involving us, provided your tenant agrees.

If your tenant doesn’t agree then we offer a free and impartial alternative dispute resolution service to resolve the issue.