Change of Tenant
I am a jointly and severely co-tenant and would like to move out during a tenancy term with a new tenant moving in to replace me....
Ultimately your landlord has to acknowledge your request and approve, the main issue is as an agent we have not meet the new tenant and made a gut instinct before proceeding and also as no, end of tenancy clean or check-out can take place, any new tenant would need to sign against the original check-in conditions.
What is the process and what are the costs?
- New tenant would need to pass a full credit and reference check, just as you did before you moved in. This will cost £24 (£20+VAT).
- New tenant would need to be approved for the "Right to Rent" in the UK £4.8 (£4+VAT)
- New tenancy agreement will need to be raised either to the end of the current tenancy agreement or beyond this date, start date will either be the first day of a new term of a rent due date. This will cost £150 per tenant (£125 + VAT) Subject to the progression length of the current tenancy term
- The property will need to be formally inspected once you have moved all your items out and before the new tenant moves his/her items in and takes possession, ideally both current tenants and new tenant would be present. This will cost £36 (£30 + VAT) * Subject to location of property
- A letter will need to be signed by all current tenants and new tenant confirming acknowledging the original check-in report as this will be the document compared against at the end of the tenancy, also the vacating tenants liability will end when a new tenancy commences.
- All Utilities, Council Tax accounts will need to updated by the new tenant and any remaining tenants.
- New tenant will need to pay a proportion of the security deposit required, current deposit returned to Your London to be paid to the vacant tenant (Subject to inspection conditions) before re-registering with the new and remaining tenants details
- Payment of administration fee and new tenant to be referenced immediately
- Tenancy Agreement signed asap, no later then 2 weeks before proposed tenancy start date
- Deposit payment and inspection fee received no later then 1 week before proposed tenancy start date
NO FUNDS ARE TO BE EXCHANGED FROM NEW TENANT TO A VACATING TENANT