Getting Back a Deposit

Posted by momo8.. (147 days ago)

I have two friends sharing an apartment who are arguing over deposits.One of them is moving out and there is a new person moving in,problem is once his name is off the lease he wants his share of the deposit back.

It's around HK$25 000 (his share) so who is responsible to pay this to the lanlord?The lease on the place will run for another year.This guy is moving back to the UK and the new person is moving in.

No idea what advice to give them.

(I am based in Hong Kong)

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Posted by ppatio (146 days ago)

urrm....the new person should pay a sum of money equivalent to the deposit to the guy who is moving out ? makes sense to moi

(I am based in Hong Kong)

Posted by Mark_Larsen (146 days ago)

Agree with ppatio. Just ask the new guy to pay the deposit, and give it to the old one...can't be easier.

(I am based in Shanghai)

Posted by aemom (145 days ago)

But, if the lease has names A and B on it and A and B paid the deposit to the landlord, won't the landlord only refund the deposit to A and B, not to C?

Some people consider the deposit to be the last x months' rental payment in which case the idea of C paying B wouldn't matter too much. BUT if A and C are required to pay the last x months' rent and get the deposit back as a refund, C may be out money as the lease has B on it. A separate legal document would have to be signed if C wants the deposit back.

It may just be easier to start again with a new lease signed by A and C. Or, if B is backing out of the lease, B pays a penalty.

(I am based in Hong Kong)

Posted by ldavy (142 days ago)

Your friends will probably find, if they read their Tenancy Agreement, that they cannot subsitute a different tenant. They are the ones renting the flat, and if the TA is the same as all the others I've dealt with it will specifically state that they cannot sub-let or transfer. You can't take someone's name off a lease. They need to get the landlord's agreement, in which case the landlord will also have to agree to refund the deposit to C.

(I am based in Hong Kong)