Tenants Feel safer thanks to Deposit Protection

A staggering ninety-one percent of tenants feel safer since tenancy deposit legislation was introduced two years ago, a new survey from The Deposit Protection Service (DPS) reveals.

Since April 2007, when tenancy deposit legislation was introduced, every deposit taking landlord and letting agent in England and Wales has to use one of two tenancy deposit protection methods.

The tenancy deposit legislation protects deposits and reduces risks for everyone involved. Landlords who fail to register a deposit face being fined up to three times the value of their deposit as well as losing their eviction rights. Tenants who have been proven to have damaged a property will forfeit money to cover this; while those tenants who have looked after the property will receive their full entitlement back.

It is important to ensure that a full and detailed inventory is provided at the start of each tenancy says Simon Bacon of Preferential Properties. We have ensured that the staff that undertake Inventories on behalf of landlords have been properly trained and have gained professional membership of the Association of Professional Inventory Providers. We recognise the importance of training our staff to ensure that any disputes at the end of a tenancy are kept to an absolute minimum and that deposits can be returned as soon as possible at the end of the tenancy.

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