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irvin

Student lettings & Deposit protection

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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

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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.

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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 :D

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.

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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? :)

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