With landlords forced to sign up to government backed schemes when taking a deposit from tenants, the report indicated that the Tenancy Deposit Protection (TDP) schemes had accounted for 66,000 protected deposits since 1 April, at a rate of over 1,500 deposits a day.
find the latest industry jobs
Commenting on the take-up of the schemes, Communities Minister Baroness Andrews, said: “This great start to the new tenancy deposit schemes shows that time is up for rogue landlords who refuse to pay deposits and tenants who leave without paying their last months deposit.
“The new rules offer greater certainty and strike a fair balance between the rights of landlord and tenant.”
David Salusbury, chairman of Tenancy Deposit Solutions Ltd, one of the scheme providers, added: “tenancy deposit protection is gradually becoming part of the private-rented sector scene. Hopefully it will play its part in raising standards and increasing professionalism across the sector, which should benefit not just tenants but also landlords and agents.”
register for the next forum
David Hollingworth, mortgage specialist at London & Country, welcomed the initiative. He said: “I think the most obvious benefits are for tenants, but the agreement should make the process black and white for both sides and less ‘woolly’ for everyone involved.”
