Source : http://www.lettingnews.com
A news bulletin circulated today to all members of the Tenancy Deposit Scheme (TDS) gives the first rounded overview of the first 6 months of the scheme - a success since the launch which made deposit protection a legal requirement in the Private Rented Sector in England and Wales.
The figures released confirm the position of the parent organisation (The Dispute Service) as the best independent dispute resolution and redress organisation in the private rental sector. The Tenancy Deposit Scheme is one of three authorised by the government and now safeguards around £283 million of tenant deposits. Some 217,134 landlords have joined the scheme which covers 282,364 tenancies and 428,769 tenants in those properties.
The average deposit protected by the scheme is over £1200 - well over the average amount that has been suggested by many published statistical reports. A news bulletin by the TDS also shows that the number of disputes is rising and that the first of these under the new statutory requirements are beginning to arise. Most of the disputes regard cleaning at the end of tenancies, half seem to be about damage, and other common ones seem to involve rent arrears and taking care of garden areas. Neither landlords or tenants appear to be favoured by the scheme however.
The TDS has also shown success in dealing with a totally unexpected stream of enquiries - over 3000 calls in a week at the peak in April - now settling at around 800, and TDS membership is running at 5350 branches of letting agents with a large number of corporate landlords