Tenant Deposit Dispute Figures Looking Good

by Property118.com News Team

10:00 AM, 14th May 2013
About 5 years ago

Tenant Deposit Dispute Figures Looking Good

Make Text Bigger
Tenant Deposit Dispute Figures Looking Good

Tenant Deposit Dispute Figures Looking GoodThe ratio of deposit disputes in England & Wales is just over one per cent according to official figures released by the Department for Communities and Local Government (DCLG).

The Government figures show that of the Seven million (7,052,255) deposits that have been protected since the launch of the legislation in 2007, only 91,802 have ended up requiring formal dispute adjudication – just 1.3 per cent.

All Tenancy Deposit Protection (TDP) schemes are required to provide a free and impartial service to landlords and tenants who are unable to reach an agreement over the return of tenancy deposits.

Furthermore, a total of 10,657 complaints about deposit protection (as distinct from disputes) and the service provided have been made to all three schemes in that time – which accounts for just under 1,800 complaints a year.

The figures were calculated by combining information provided by all three TDP schemes that operate in England & Wales; my|deposits, The Deposit Protection Service and The Dispute Service.

Eddie Hooker, Chief Executive of the my|deposits, said:

“It’s good news for tenants, as it shows the vast majority are happy with the return of their deposit at the end of the tenancy. It also shows that the relationship between landlord/agent and tenant is improving.”

The official government figures also show that the total number of deposits protected last year, which stands at 2,659,301, totals a whopping £2.6bn (£2,637,843,361).



Comments

sam

17:48 PM, 15th May 2013
About 5 years ago

Does anybody know what the cost of the scheme was compared to the amount disputed/settlement ?

I would suspect this is another instance where the solution is worse/cost more than the original problem. Another layer of cost dreamed up by politicians - does anybody know how much did the 3 TDP schemes make ?

It is exactly these kind of schemes that make everything in this country so expensive and so uncompetitive.


Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

OR

BECOME A MEMBER

Help calculating rents?

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More