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.
The custodial release process
Member initiates release
Member initiates the release
Member initiates the release
Lead tenant responds
Lead tenant has 14 working days to respond to the release to either:
- Accept the deposit release terms, funds will be paid within five working days
- Dispute any deductions, we will keep hold of the disputed amount and pay any undisputed amounts within five working days
Lead tenant does not respond
Should the tenant fail to respond, we will return the amount claimed by the member within 5 working days.
Lead tenant initiates release
Tenant initiates the release
Tenant initiates the release
Member responds
Member has 14 working days to respond to the release to either:
- Accept the deposit release terms, funds will be paid within five working days
- Place a counteroffer which will revert the process to ‘Member release’ on the previous slide
Member does not respond
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
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
Release the deposit
We will only process a request of the deposit if the deposit amount we are protecting has been received in cleared funds
Unprotecting the deposit
After 30 days from the end date, 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.
In event of a dispute
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.
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.
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.