How to deal with DPS Deposits when a tenant renews their tenancyMake Text Bigger
I currently have deposits protected in the DPS custodial scheme. My tenants are due to renew and I am wondering how to deal with their deposits.
There is no easy way in the DPS to just update the start and end tenancy dates without doing a whole resubmission.
This would mean the tenant has to provide a whole new deposit and then I would refund their old one when their current tenancy lapses.
Does anyone know what is the correct thing to do in these situations?
Can I leave the deposit in place with the current information and just issue a new prescribed information and terms and conditions to the tenant?
Appreciate your comments.
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