Landlords still struggling to understand tenancy deposit scheme

04 2008
A significant number of UK landlords still do fully understand the Tenancy Deposit Scheme (TDS), a new study has found.

Coming soon after the TDS announced that it has safeguarded nearly £900 million worth of tenants' deposits since the initiative came into effect just 12 months ago, research has found that many landlords are still lagging behind, thereby leaving those renting their properties potentially at risk of not getting their deposits back.

According to the Money Centre, 40 per cent of those landlords questioned said that they were unaware of the scheme, while a further 22 per cent were aware of it but admitted that they do not understand what it involves.

This means that just 38 per cent of UK landlords have a full understanding of the TDS.

Lynsey Sweales, marketing and PR director of The Money Centre, said: "The results of this research are extremely worrying. The scheme has now been in place for nearly a year, yet many landlords are still unaware of the legislation and its implications."

On a more positive note, it was also found that, of those questioned, half felt that the scheme is beneficial to both landlords and tenants and works well to keep deposits secure. ADNFCR-1219-ID-18537733-ADNFCR

Related Articles
Mayfair home falls down in credit crunch
A £20 million London property has become the latest victim in the...

House prices have 'no reason' to stabilise soon
The idea held by many that Britain's house prices will steady as a result...

Which? publishes help for 'accidental landlords'
Consumer organisation Which? has created a book to aid landlords in the...

Private landlords 'should be encouraged'
The private rental sector should be supported and expanded, and buy-to-let...

Annual price drop reaches 8.1%
A relatively modest annual price drop has been recorded by Hometrack this...