One of our existing Landlords has just purchased a new property which is currently let out. The previous landlord had them on a basic AST and took deposits which have been paid into the DPS and now moved across to our DPS account, therefore we hold them. The Previous Landlord did not issue prescribed information, so we are now unclear what to do.
The current contract ends in 2 months, so we wasn’t going to get the tenants to sign a new one, but are we able to issue a new prescribed information without issuing a new tenancy? or are we better to simply return the deposits back to the tenants.