More tenants aware of deposit protection schemes

Awareness of tenancy deposit protection (TDP) among tenants in England and Wales has increased in the last six months, new research from my|deposits shows. However, the majority of tenants say they have never discussed details of their tenancy deposit with their landlord or letting agent. The findings show that 72% of tenants say they were aware that TDP exists – up marginally by 3% since April 2012. However, 86% of tenants say they have not yet discussed the protection of their deposit with their landlord or letting agent, despite TDP legislation being in place for almost six years in England and Wales. Eddie Hooker, CEO of my|deposits, said: “TDP has undoubtedly helped to raise standards in the private-rented sector in England and Wales but there is room for improvement and more needs to be done to build awareness among tenants. “The legislation was introduced to protect the consumer and their deposit money so it’s vital that they talk to their landlord or letting agent and ask where their deposit has been protected.” The research – which tracks awareness and attitudes of TDP – also shows that the majority of tenants do not go directly to the TDP schemes for more information about deposit protection.  The findings show that: + 32% would use an online search + 27% would visit government website Direct Gov + 27 per cent of tenant’s would go straight to the TDP schemes Hooker added: “Online searches are a very useful tool but there can be lot of mis-information on the web about TDP, so it is important that tenants know where to look in the first place. “The my|deposits website has a dedicated section for tenants, which contains a vast array of information about the tenant’s rights and helpful resources and guides on a range of deposit protection topics.”

Article courtesy of Property Investor Today
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