I have got a new job in another city but am tied into a tenancy agreement, is there anything I can do?
Yes- you may be able to replace yourself on the tenancy with someone else!
If in your tenancy agreement you have a replacement tenancy clause then you are able to replace yourself with another tenant, subject to the prior approval of your landlord. You should inform you Property Manager that you wish to replace yourself as soon as possible who will seek the permission of your landlord- the onus is on you to then find a replacement tenant. This can be done using social media, gumtree, craigslist, friends, family, work colleagues etc.
At ludlowthompson when you have found someone and informed us we would then carry out all the necessary administration involved. We charge a replacement tenancy fee of £360 (inc VAT) payable at the point of each replacement (A replacement can involve more than 1 person at the same time). The fee includes: Referencing the whole party including any guarantors (identity, immigration and visa confirmation, financial credit checks, obtaining references from current or previous employers / landlords and any other relevant information to assess affordability) as well as contract negotiation and arranging the tenancy and agreement.
You will remain liable for the rent and all other responsibilities of the tenancy agreement until the point at which the new tenant has passed referencing and they have returned a signed tenancy agreeement. If for any reason the prospective replacement tenant(s) do not pass referencing you will need to find another indivudual to be referenced and will not be able to move out of the property until they do so.
3rd July 2015
DISCLAIMER: Neither ludlowthompson nor their ‘experts’ take any responsibility for any action or loss incurred by readers of these pages. The reader acts on advice at their own risk. Answers to questions are not exhaustive. Financial advice must always be sought from a professional financial adviser