A tenant swap occurs when an outgoing tenant is replaced by an incoming tenant during a tenancy.
There are currently two ways to do this on Reposit’s system:
- The best way to do this, although only possible in England in Wales, is to use the deed of assignment attached. This will need to be signed by the outgoing and the incoming tenant. Using the deed of assignment will prevent you from having to get the tenants to sign a new AST and having to complete a new inventory. It is your responsibility to provide us with the email address and name of the incoming tenant for us to process this. We will charge the incoming tenant a fee of £50 to cover our admin expenses. It is also your responsibility to make sure the incoming tenant has signed up and paid their £50. (There will be no cover in place until they complete payment) As soon as the incoming tenant has done this they will be responsible for their share of the liability. It is therefore important that they settle any existing costs with the outgoing tenant privately.
- To end the tenancy on our system and create an entirely new tenancy. For this solution, we would need a new tenancy agreement to be issued and a new inventory check to take place. You will then need to create the Reposit on our system as if it was a new tenancy. The tenants will, therefore, need to pay for the new Reposit.
If you choose option 1 and have completed the deed of assignment document, please let our team know (firstname.lastname@example.org) so that we can update the Reposit invite the new incoming tenant to the platform to pay their fee.
If there is an increase or decrease in tenants, it is not possible to action a tenant swap. A new Reposit will be required, which means you will need to carry out:
- Tenant referencing
- To carry out an affordability check if there is an increase in rent
- If there is a change in tenants who have not previously been referenced
- Conduct a new check-in report/inventory
- Issue a new tenancy agreement with our addendum attached