Figures from one lettings company claim 16% of UK renters believe their landlord or lettings agent has “unfairly” taken money from their tenancy deposit – rising to 25% for millennials and 30% among university students.
The figures also claim that 13% of renters have lost money from a tenancy deposit due to damage done by other housemates, and 14% have lost some of landlord deposit due to pre-existing problems with the property.
18% of UK renters have successfully challenged attempts from their landlord or lettings agent to take money from their tenancy deposit – almost one in five.
Ajay Jagota from zero deposit rent firm Dlighted responded to the figures.
“A lot of landlords and letting agents will probably respond to these figures with ‘well, they would say that, wouldn’t they?’ – but there’s an important truth here.
“On the basis of these figures, as many as one in five tenancies could be on track to end in the involvement of a deposit dispute service. Whatever the validity – or lack of – of tenant’s claims that’s a load of hassle and expense landlords and letting agents could surely do without, not least when lengthy disputes can leave properties unrentable for long periods.
“When much better protection against unpaid rent, property damage and legal fees available to landlords and letting agents exists through deposit free renting using deposit replacement insurance – which also saves time and money while making it easier to find and keep good tenants – it’s another sign than 2018 is the year to ditch the deposit.”
Deposit free renting with Dlighted uses low cost deposit replacement insurance – payable by landlords, letting agents or tenants themselves – to allow properties to be rented out without a landlord eposit, with landlords offered more than £600,000 of cover against legal costs, unpaid rent and property damage.
Zero deposit renting with Dlighted also removes the need for a deposit dispute service or deposit protection scheme such as TDS, mydeposits or the DPS.
85% of tenants surveyed claimed deposit-free renting was their primary reason for choosing a property or letting agent.
The figures come from a survey from lettings app SPCE