New Fixed Term Tenancy Agreement

Malibusmash

My tenants are coming to the end of their one year fixed term AST and have told me they want to renew for another year, so I am issuing them with a new one year fixed term AST.

Their deposit is already protected with the DPS and I'm aware I have to issue them the Prescribed Information again, which I will do.

My question is; do I need to inform the DPS? What do I need to do about the deposit? Do I need to give it back to them and then take it off them again?

Also, would you recommend undertaking a brand new inventory or use the one that was issued a year ago?

Thanks

Pixie5740

Not sure about the deposit side of things but you don't need to undertake a brand new inventory. It's uncommon (I've never heard of it happening at least) for a new inventory to be taken at the start of a tenancy renewal.

When the tenancy ends, the tenants need to leave the property in the same condition that is was at the start of the tenancy minus any fair wear and tear so as long as you have an inventory from the start of the tenancy that will suffice (as well as a check out inventory when the tenancy ends) should you need to make a claim from the deposit.

SerialRenter

Some of the deposit schemes (myDeposits) have a presumed end date for the tenancy and will automatically unprotect the deposit if it's not updated (i'm assuming this is still the case, it may of changed), so it may be worth logging on to the scheme you're using and check.

Malibusmash

Many thanks both - much appreciated.

For anyone else interested, I'm with the Deposit Protection Service and have found out that:-

If a deposit is protected and the tenant extends their agreement, what action needs to be taken?

A deposit will remain secured until a Joint Deposit Repayment claim is made by the agent/landlord and tenant(s). Therefore, there is no action required at the end of the initial tenancy period.