Tenancy deposit protection scheme my|deposits is providing more guidance to letting agents who are facing a dispute over the deposit with their tenant. We recently released our Preparing your Dispute Evidence Checklist designed to help you ensure the right type of evidence is prepared for any dispute from the very start of the tenancy.
Now, we are lifting the lid on our adjudication process with a behind-the-scenes look at how our alternative dispute resolution works.
On the mydeposits website you’ll find a series of case studies based on actual disputes which have come before the adjudicators. The first case study involves a tenant who failed to properly look after the garden at the property. They raised a dispute when the letting agent refused to return all of their deposit to help pay for garden maintenance. The second case study involves administration fees charged by a letting agent.
Eddie Hooker, Chief Executive, my|deposits, said:
“Often landlords and letting agents who are facing a dispute with a tenant aren’t sure of the process adjudicators go through to reach their decision.
“We want our agent members to be better informed in the unlikely event of a dispute, and that means providing quality evidence to substantiate their claims for withholding the deposit.
“The law clearly states that the deposit remains the tenant’s money and that they are entitled to get it back at the end of their stay provided they have met the terms of the tenancy agreement, so the onus lies with the agent to provide proof. Anyone who is facing a dispute should make use of these before preparing their evidence for submission.”
The case study library will be added to each month with new examples of common dispute issues.
You can visit our case studies library now and download individual case studies.
The good news is that just over 1% of all the protected deposits with my|deposits end needing formal dispute resolution.
Next month, my|deposits is making some important changes to its pricing and will be offering discounts to SAFEagent registered agents, as well as agents with Client Money Protection Insurance, including NALS, ARLA, NAEA and RICS members.
From 5 April 2012, SAFEagent members will be able to protect deposits for just £10. Other accredited agents can protect deposits for £12.
We will also continue to be the only scheme offering deposit protection to unaccredited agents without client money protection insurance, who want to hold onto the deposit money
For more information on our new pricing,
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