 Tenancy
information
if renting from private landlords
While around 80% of private tenants are required to pay a deposit
to their landlord - often equivalent to one month's rent - to cover
the incidence of damage to the property and contents (in the case of
furnished accommodation), or any unpaid rent left outstanding at the
termination of the tenancy, a similar percentage of tenants are
still unaware of the rules that have recently been introduced in
England and Wales regarding the legal protection of these deposits.
Recent
legislation change
A recent change in legislation requires all private landlords to
place any money paid to them as a deposit for an assured short-term
tenancy into an accredited tenancy protection scheme, providing the
tenant with the valuable knowledge that their deposit will be held
safely and securely until such times that they vacate the said
rented property when it will be duly returned in full, unless there
has been undisputed failure to comply with the terms of the tenancy
agreement.
Whilst private landlords seem more aware of any changes in
legislation pertaining to rented dwellings, private tenants appear
to be left very much in the dark regarding their rights, and as
these new rules allow both parties an equal opportunity to gain
access to the services of an independent dispute resolution agency,
in the event of an argument over the return of a deposit at the end
of a tenancy, both landlord and tenant benefit from the same level
of protection.
So if you're about to hand over a large amount of cash before
you've even moved into your newly rented accommodation, it's well
worth knowing that not only will it be tucked away in a
purpose-built, secure account but also that you'll experience no
problems in having it returned as long as you abide by the terms and
conditions of your tenancy agreement. For more information visit
www.thedisputeservice.co.uk
Please Note! YOUR
HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR
OTHER LOAN SECURED ON IT. ALL SECURED OR UNSECURED LOANS ARE SUBJECT
TO STATUS. SECURED LOANS ARE SECURED ON PROPERTY.
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be obtained before making any such decision.
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