Positive signs from Tenancy Deposit Scheme
The Tenancy Deposit Scheme (TDS) has welcomed a lower-than-expected dispute rate recorded during the first year of mandatory tenancy deposit protection.
Less than two per cent of tenancies registered with the scheme filed a dispute over their deposit, according to the latest figures from the government-backed programme.
As of June 1st, tenancies housing some 858,244 tenants with 409,215 landlords were registered with the scheme, safeguarding deposits worth a total of more than £545 million.
And yet despite the massive figures, the number of tenancies ending with a dispute amounted to a mere 1,043 cases, with the average resolution time being a respectable 28 days.
While acknowledging that there is still room for improvement, TDS chief executive Lawrence Greenberg said that people relying on flats to rent in London - as well as London property landlords - will welcome the findings.
"A dispute rate at only 2 per cent is very encouraging as it suggests that agents, landlords and tenants are getting to grips with deposit protection and all that it entails," he commented.
Mr Greenberg concluded: "With this new understanding they are more inclined to honour the tenancy agreements they have made."
Published 16th June, 2008
© 2008 Estates IT Limited
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The Tenancy Deposit Scheme (TDS) has welcomed a lower-than-expected dispute rate recorded during the first year of mandatory tenancy deposit protection.