Assigning a lease to someone else

Sugar Free

I was renting a one bed apartment with one other person. Neither of us are living there anymore and would like to assign the lease to somone else as there's 6 months left on it and we would like the deposit back if possible.

My understanding is we are entitled to do this.

Do I have to contact the letting agency and inform them of my desire to assign the lease to someone else or should I only do this after I have found suitable people?

Can I go ahead and advertise it myself or does the letting agency have to do that as well?

Any advice much appreciated.

silja

I'd contact the letting agency first. They/ the landllord may prefer to find their own new tenant, as that way, they get to choose who moves in (and it would save you the haddle).

Ciara22

I would let the agency know first but they are not obliged to help you to find a new tenant. Its your lease agreement so its up to you to find someone to take it over. However, they may insist that the new tenants need to have suitable references and might want to check them out first before agreeing to the assignment.

Also, the new incoming tenants will have to agree to pay the same rent as you were paying and they will pay their deposit directly to you.

This means that they will now have full responsibility of the remaining term of the lease and your deposit with the agency, is now also transferred into their name.

Sugar Free

Thanks both. I gave them a call today so I can go ahead with getting it on daft. They're going to contact me tomorrow about the details (references needed etc. when I find people).