Updating post from Reddit.
If a tenant sharing with another tenant (both on the original 12 month contract from a few years back) leaves.. does a new tenancy agreement need to be signed?
Under what circumstances? Is it a couple that have split up? If so, and the remaining tenant wishes to carry on living there, they may want a new agreement with only their name on it.
Yes, a couple splitting up (one half wishes to stay)
Had this happen with one of my properties around the start of the year. A new tenancy agreement with a solo tenant was the best option for all involved.
A joint tenancy means joint liability for the rent. The one who's moved out probably won't want any responsibility for that. The one who's staying will probably want the place to themselves with their ex having no further connection to the property.
Thanks, that sounds best (to do a new agreement), just wondering about the deposit?
My agents just rolled that over to the remaining tenant.
I'd leave it up to the couple to figure out if one wants to just walk away from it or one buys the other out by paying them half or something directly. I didn't get involved.
Ah yes that is probably the best (as I too didn’t set it up), so you just did the new agreement?
Got my agent to sort that out too. All I had to do was sign it.
When one gives their notice the tenancy ends for both. They both need to leave unless you are prepared to let one have a new tenancy.
Do an inspection as you will need to return the deposit (if no damage) and start from scratch, credit and income checks etc.
Make sure all the correct paperwork is done for the new tenancy. Inventory needs doing again.
If they fail anything they will need to leave as they have ended the tenancy, a court doesn’t need to do it. If they stay past the leave date, in theory you can charge double rent.