Tenancy deposit protection (TDP) scheme my|deposits has revealed that it has seen a sharp rise in the number of adjudications between landlords and tenants over the past year. My|deposits offers free and impartial alternative dispute resolution (ADR) to landlords and tenants who are unable to come to an agreement over the return of a deposit at the end of the tenancy.
The latest figures show that between April and August this year my|deposits have dealt with 24% more adjudications cases than during the same period last year.
However, despite the increased workload the scheme has successfully reduced the total time taken to resolve a dispute by three days, from 58 to 55, over the last year.
Furthermore, the scheme can also reveal that 40% of disputes it helps resolve over deposit returns, mainly more complex cases, are decided independently by the Centre for Effective Dispute Resolution (CEDR).
Eddie Hooker, chief executive of my/deposits, said: “my|deposits works to strict performance indicators when dealing with disputes so we’re delighted to report that we’ve reduced the overall time taken to resolve deposit issues between landlords, agents and their tenants.
“While we have a team of professional adjudicators on hand to effectively resolve disputes, we are the only TDP scheme to outsource disputes externally to the Centre for Effective Dispute Resolution (CEDR) - the leading independent commercial ADR provider in Europe.
“By splitting the number of adjudications we handle internally and between CEDR, we provide vital assurances to landlords, agents and their tenants that the service we offer is professional, fair and transparent and that we are committed to cutting the cost of our dispute resolution.”
Article courtesy of Property Investor Today