Nearly a half of tenants understand new deposit laws |
19 2007 |
| A majority of landlords and tenants of rented accommodation now feel they fully understand the new Tenancy Deposit Protection scheme, it has been revealed. The initiative came into effect in April though many people complained then of a lack of marketing surrounding the scheme, meaning they were left unaware of its full implications. However, research carried out by the scheme itself has found that the level of tenants claiming to fully understand the regulations has gone up from around a third to a half, while the level among landlords has risen from 54.5 per cent to 63 per cent over the same period. Next month, however, will be when the success of the scheme can be properly assessed as it will be six months after the legislation came into effect and therefore many contracts will be coming to an end. "Although many tenancies are arranged for an initial six month period, industry figures show that the average length of tenancies is now 18 months," said Lawrence Greenberg, chief executive of the Tenancy Deposit Scheme. "The outcome from this would be a more gradual build-up in demand for dispute resolutions."  |
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