HMO's & deposit schemes when one or more vacate
Tenancy Deposits

Maureen_539
Maureen_539
5,073 Thanks
8,382 Posts
10 years ago
0
Hello colleagues
What issues with Deposits do Landlords experience with a joint & several tenancy when one, or more, need to leave a HMO property mid way through the contract. They of course obviously want their individually paid deposits back [ even if they are breaching the contract by leaving]. A small sum cannot compensate for months of lost rent & or, damage done.
Do I remind them to contact the custodial scheme for advice, cut my losses & re-advertise pdq?

Can colleagues recommend a scheme that's better than another for a HMO scenario where 3 or 4 students, share a house until one or two need to vacate..

What pitfalls DPS wise have colleagues come across when 3 share rent & bills but pay deposits separately - & often on different dates?
No prob if they do everything[arriving & vacating] in unison, no doubt.

Many thanks in anticipation of replies & Seasons Greetings.
M.

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