Many landlords improperly protecting deposits
Almost two thirds of UK landlords are failing to adhere to tenancy deposit rules on their property, according to latest findings.
A survey by the Deposit Protection Service (DPS) has revealed that over 60 per cent of landlords admit that they are not registered with a deposit protection scheme.
This legal requirement means that, if adhered to, those who have flats or houses to rent in London ensure that their tenant's deposit is safe.
"Fifteen months after legislation was introduced, there is no excuse for failing to properly protect your tenants' deposits," said Kevin Firth, client services director for the DPS.
Figures from the DPS revealed that 18 per cent of landlords were registered with the DPS, with just 14 per cent in other schemes.
"Landlords need to understand that failing to register a deposit is quite simply an unlawful act," Mr Firth concluded.
This follows a recent residential lettings survey by the Royal Institution of Chartered Surveyors, which revealed that rental property is on the rise.
Published 9th July, 2008
© 2008 Estates IT Limited
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Almost two thirds of UK landlords are failing to adhere to tenancy deposit rules on their property, according to latest findings.