Tenant Deposit Protection scheme lauded
The Tenant Deposit Protection scheme introduced last year has dramatically reduced the number of tenants who lose their deposits, it has been claimed.
New figures published by the Citizens Advice Bureau (CAB) show that of the 200,000 individuals deposits protected under the scheme in the past 12 months, there were a mere 341 grievances.
Just 64 of those cases subsequently required adjudication through the Alternative Dispute Resolution (ADR), meaning that the overwhelming majority of tenants retrieved their deposits without problem.
"It is real cause for celebration that one year on from the introduction of the government's tenancy deposit protection - something we campaigned for over many years - one million deposits are now protected," commented CAB social policy officer Liz Phelps.
She conceded that a small number of landlords continue to break the rules, though noted that, when taken before the ADR, 86 per cent of decisions went in favour of tenants.
David Salusbury, chairman of mydeposits.co.uk, added that landlords who fail to comply can receive fines of up to three times the deposit as well as incurring "significant limits on their ability to seek possession".
Published 7th April, 2008
© 2008 Estates IT Limited
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The Tenant Deposit Protection scheme introduced last year has dramatically reduced the number of tenants who lose their deposits, it has been claimed.