Tenants advised of deposits grey area

13 2008
Tenants whose 12-month rental contracts are due to expire over the next couple of months have been urged to check their deposit is safe before they move out.

While the recently-introduced Tenancy Deposit Scheme means that those who signed their contracts after April 6th are automatically protected by law, many will have moved in just prior to this and therefore could still be vulnerable to unscrupulous landlords.

According to the Citizens Advice Bureau (CAB), around one in four of all tenants living in privately-rented houses and flats now have their deposit safeguarded by the scheme.

The organisation revealed that the average deposit now stands at £889, adding "that's why we are reminding people whose assured shorthold tenancies are coming to an end to check their deposit is protected.

"Once you've moved out it will be too late to benefit from the new law -you need to take action as soon as you give notice or receive notice to quit."

Those landlords that fail to protect a deposit taken since the legislation came into effect are committing a civil offence, the CAB also advised tenants. ADNFCR-1219-ID-18466011-ADNFCR

Related Articles
Rental investment remains strong in north-east
Investment in rental properties has remained sustained in the north-east...

Properties in the capital take 7.5% dive
Top properties in London are falling at record levels, it has been...

Pensioners could increase falls in property prices
Britain is currently home to 1.7 million pensioners who are relying on the...

BBA and Rics agree that housing market will not improve for months
The British Bankers Association (BBA) has suggested that house prices are...

House price declines 'slowing but not finished'
Recent slowdowns in the speed at which house prices are declining in value...