People considering flats to rent in London offered advice
People looking for flats to rent in London may wish to make sure they take out a tenancy with a reputable agent after one expert warned their deposits are not always kept safe.
Writing for lovemoney.com, John Fitzsimmons said that even though individuals are now required by law to place money put down on a property into a protection scheme, some do not do this.
He cited research carried out by Shelter that found one of the most popular ways for dodgy landlords to make extra money is a refusal to put deposits into one of the systems.
Mr Fitzsimmons stated that before signing for a home, people - such as those opting for flats to rent in London - should have a conversation with the owner about which deposit scheme they are using and when they plan to put their downpayment into it.
Those who are currently looking for a flat to rent in London may wish to act quickly if they find one that is suitable after Lynn Hilton, partner for residential lettings at property consultants Cluttons said competition for high-quality establishments is "fierce".
By Hayley Jones
Published 7th December, 2010
© 2010 Estates IT Limited
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Some landlords are avoiding placing deposits into protection schemes, it has been noted.