B P Collins Solicitors: talk to the experts
Gerrards Cross: +44(0) 1753 889995
Beaconsfield: +44(0) 1494 675363
Related stories
Selecting the right tenant 'is vital'
2 December 2008
Property repairs 'need to follow regulations'
1 December 2008
Landlords 'need input from agents'
1 December 2008
Mortgage lenders 'asked to review their advice'
28 November 2008
Tenant deposit scheme deemed a success
18 September 2008
The introduction of tenant deposit protection schemes has been effective, according to one expert.
Steven Hilton, media relations manager for mydeposits.co.uk, said deposit protection has been a "success story" since being launched in England and Wales in April last year.
He explained that his company alone was protecting 300,000 individual deposits for tenants within the residential property sector.
"With new tenancies being created all the time, it is vital that tenants make sure their deposits are protected and are shown a confirmation of protection within 14 days of handing over their cash," he commented.
However, recent research by Liverpool Victoria revealed that 29 per cent of those renting private accommodation who have moved in the last year are not in a tenancy deposit protection scheme.
The company also noted that 48 per cent of renters are not aware such schemes exist, while a further 24 per cent had heard of the initiative but did not know the details of it.
Landlord disputes seem to be a common issue for renters, with 77 per cent claiming they had previously had their deposit unreasonably withheld.
