How to end the tenancy deposit protection
If the contract is coming to an end, you’re probably wondering how to end the tenancy deposit protection. Don’t worry, we’ve got all the i
The custodial release process
Member starts release
Member starts the release
Member starts the release
Lead tenant responds
Lead tenant has 14 calender days to respond to the release to either:
- accept the deposit release terms; funds will be paid within five working days
- negotiate any deductions; we will keep hold of the unresolved amount and continue to hold the deposit money until settlements are reached or resolution is initiated
Lead tenant does not respond
Should the tenant fail to respond, the landlord/agent will be able to initiate the single release process. A statutory declaration will be available to download, have witnessed and upload via the online account. Once we approve the statutory declaration the tenant will have a final 14 days to respond. Should they fail to respond, we would release the claimed amount within five working days.
Lead tenant starts release
Tenant starts the release
Tenant starts the release
Member responds
Member has 14 calendar days to respond to the release to either:
- accept the deposit release terms; funds will be paid within five working days
- place a counter-offer or settlement,which will revert the process to ‘member release’
Member does not respond
Should the landlord/agent fail to respond, the tenant will be able to initiate the single release process. A statutory declaration will be available to download, have witnessed and upload via the online account. Once we approve the statutory declaration the landlord/agent will have a final 14 days to respond. Should the landlord/agent fail to respond, we would release the full amount within five working days.
The custodial release process
Returning the deposit for insured
Returning the deposit for insured
Inform us
Within 30 days of the tenancy ending, you must inform us of the status of the deposit protections:
- Tenancy has ended
- Periodic tenancy
- Renewed by giving the same tenants a new fixed term
Unprotecting the deposit
After 30 days from the end date of the tenancy, if the landlord/agent has failed to update us of the status of the tenancy, we will automatically unprotect the deposit, and send notification to you, the tenant and any interested party.
Tenant notify
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. Any remaining money should be returned to the tenant.
In event of a resolution
In the unlikely event of you being unable to agree over the amount to be returned, you can use our free resolution service. Impartial expert adjudicators will review all the information and evidence provided and look to resolve the case using their resolution expertise. This is cheaper and quicker than using the court.
End of tenancy options
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.
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)
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.
Resolution 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 resolution service to reach a settlement.
All our tenancy deposit schemes are powered by Total Property and delivered by the same expert teams, so you can expect the same great customer service, however you choose to protect your deposits.
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