The typical delay in tenants receiving their returned deposits is “crippling” for many.
That’s the view of the Association of Independent Inventory Clerks, which cites government figures saying the average time to return deposits is between 29 and 37 days regardless of whether the money is due back to the landlord or tenant.
The AIIC says such long delays continue despite the various tenancy reforms that have been designed to protect tenants and their funds.
Danny Zane, chair for The AIIC and MD of My Property Inventories, says: “We strongly believe that aside from the many benefits of a solid, unbiased and third party report, making sure an inventory report is in place at the start and then the finish of the tenancy will dramatically reduce deposit return times”.
He claims it makes it so much tougher for a tenant to be able to move whilst having to raise the funds for a further deposit required for the new tenancy.
“Deposit return times being as long as 37 days for a tenant to get their money back is crippling for many. This makes life very difficult for many millions of tenants and their families in a day and age where we are set on improving life for tenants” says Zane.
“We can really work these times down to reasonable periods with the use of mandatory unbiased inventory reporting at both ends of the tenancy agreement. These provide the solid written and photographic evidence that leave no room for dispute over deposit deductions or full deposit refunds”.