Student lettings & Deposit protection

[irvin]

As landlords new to both letting AND letting to students, I'd be grateful for any advice on the following:

A present AST is due to expire with four students who together wish to renew their tenancy for a further year.

Their deposits are protected.

What would be best practice: to reclaim the deposits and start again with the new tenancy, or simply allow the deposits to lapse into the next tenancy period?

If the latter, do I need to inform the Scheme?

Thanks for any advice you can offer

[Chestnut]

I would think no need to reclaim or indeed inform DPS, unless there are 'deposit' issues (e.g. damage) with the student tenants, all of whom I presume you are happy with renewing for a further year.

It's not necessary for ASTs which, after initial term, become periodic without renewal and the same tenancy continues.

[irvin]

I would think no need to reclaim or indeed inform DPS, unless there are 'deposit' issues (e.g. damage) with the student tenants, all of whom I presume you are happy with renewing for a further year.

It's not necessary for ASTs which, after initial term, become periodic without renewal and the same tenancy continues.

Thanks for the prompt reply, Chestnut

I'll be putting up the rent this year and making some adjustments to the tenancy agreement so I'll be re-issuing a new contract. Does that make a difference?

And yes, BTW, the students are (fortunately for me) model ones so am very happy for them to continue.

[Chestnut]

I wouldn't think so, unless your tenants were to request repayment (it is their money) to end existing tenancy.

[Lyndon]

A rent increase does NOT create a new tenancy.

CHANGING THE TERMS DOES! You will then have to re-protect the deposit as per the legislation since you have created a new tenancy. In practice you need not refund the deposit unless you are using the DPS.

If the tenants are "model tenants", why change the terms?