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Advice regarding rental deposit

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kg182
kg182 Posts: 10 Forumite
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in House buying, renting & selling
background - currently renting with someone who I don’t want to live with anymore. Joint tenancy but I have a feeling that if I asked to leave they would go with it.

I put the deposit down, and obviously don’t have extra money for a new deposit on another rental.

I don’t know how it works and I can’t find anything else online, but if I were to move, would my current deposit be transferred?

Sorry if it’s a dumb question, I haven’t rented before and haven’t moved between rentals.

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  • Slithery
    Slithery Posts: 6,046 Forumite
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    Nope, it doesn't get transferred.

    You need to save up enough for a new deposit as you won't get the current one back until sometime after the tenancy has ended and you are already in your new property.

    You also can't guarantee getting your full deposit back as the LL may need some/all of it to return your current property to the state it was when your tenancy started (minus fair wear and tear).

    Also as it is a joint tenancy you may not be able to leave without the other person leaving as well.
  • Comms69
    Comms69 Posts: 14,229 Forumite
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    Slithery wrote: »
    Nope, it doesn't get transferred.

    You need to save up enough for a new deposit as you won't get the current one back until sometime after the tenancy has ended and you are already in your new property.

    You also can't guarantee getting your full deposit back as the LL may need some/all of it to return your current property to the state it was when your tenancy started (minus fair wear and tear).

    Also as it is a joint tenancy you may not be able to leave without the other person leaving as well.

    Nicely put!
  • kg182
    kg182 Posts: 10 Forumite
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    Thank you so much for answering, I’m still learning about moving with rentals etc :)
  • Slithery
    Slithery Posts: 6,046 Forumite
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    Have you read...
    Tenancies in Eng/Wales: Guides for landlords and tenants
  • G_M
    G_M Posts: 51,977 Forumite
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    Slithery wrote: »
    Have you read...
    Tenancies in Eng/Wales: Guides for landlords and tenants
    Excellent link.


    Ought o be a sticky........
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