Almost 70% of tenants in England and Wales say they are aware of tenancy deposit protection legislation, but only half were provided with details of the scheme protecting their deposit by their landlord or agent.
Research by Mydeposits among 1,638 tenants during April and May says that just 51% were given the information, despite it being a legal requirement.
The new research follows a survey by Mydeposits last summer among 528 landlords, where 98% claimed to take and protect deposits.
Eddie Hooker, CEO of the scheme, said: “Tenancy deposit protection legislation was introduced to protect the consumer and their deposit money, so it’s encouraging to see that most tenants are aware of it.
“However, although the overwhelming majority of landlords are protecting a deposit, it seems more can be done to explain to the tenant that the deposit has been successfully protected.”
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Comments
Yeah its just tenants being thick and not realising!
Could it just be that tenants don't bother to read what they are given?; I've had tenants where I've had to almost pin them into their seat to get them to read an agreement.
@IndustryObserver
We don't have student lets so the issue does't arise but if we did we would issue the prescribed information seperately in those cases.
@IndustryObserver
We don't have student lets so the issue does't arise but if we did we would issue the prescribed information seperately in those cases.
@IHS
What hapopens if you take a deposit well in advance of commencement date - like on a student let?
That seems a very high proportion - perhaps it is because many tenants do not understand what they have been given.
Our prescribed information forms part of the Tenancy Agreement so no chance of the tenant not getting it but cannot make them read it!