Another survey shows tenants demanding Client Money Protection

Another survey, this time from an online letting agency, reveals that as many as 70 per cent of tenants are concerned that their deposits have not been placed in a protection scheme. 

The survey of 500 tenants, conducted this month by PropertyLetByUs, shows that only 50 per cent of tenants have ever received confirmation that their deposit was ever put in a protection scheme. 

Tenant deposit protection was introduced in April 2007 as an extension of the Housing Act 2004 for all assured shorthold tenancies in England and Wales where a deposit was taken. It was identified as a way to raise standards in the lettings industry and ensure tenants are treated fairly at the end of the tenancy.

“Tenants are right to be concerned. While deposit protection schemes protect tenants, there is little or no policing to ensure landlords and agents are compliant.  Our research shows that tenants simply don’t trust landlords and agents with their deposits, which is disappointing in light of the fact that the schemes have been around for many years” says a spokewoman for the online agency. 

“Agents and landlords have a legal obligation to put deposits in one of the three approved schemes within 30 days of receiving it. There definitely needs to be reform and hopefully the government will introduce new measures that will ensure that tenant deposits are fully protected” she says.