hi, I have prospective tenants who currently rent elsewhere and they have applied to take tenancy of my property. I was going to ask for a deposit to be paid prior to occupation (about 2 days earlier than move in date) - however the thought has occurred to me that their current deposit may not be released until after they leave their current property, and it has checked out properly etc. the two deposits combined amount to a considerable sum and I think it seems disjointed to expect them to be able to pay a deposit to me without them receiving their original deposit back? should I in fact only require a deposit on the day of move in along with first months rent? if their current property passes 'muster' then should they in fact receive their deposit back immediately on the day they leave and then pass it to me on the day the tenancy with me begins?
have I missed something here in terms of how the schemes work?
what do others do if the circumstances are as I have outlined as it must be a regular/common occurrence?
have I missed something here in terms of how the schemes work?
what do others do if the circumstances are as I have outlined as it must be a regular/common occurrence?