Crooked letting agents were convicted of stealing £1,018,100 of deposits in 2016 – and one campaigner believes this figure could be the tip of the iceberg.
Britain’s tenancy deposit scheme system costs the country £2.5billion in its biggest cities alone.
Renters are being left as much as £420 out of pocket by their tenancy deposits – even in the 97% of cases when they are returned to them untouched and without the need for deposit dispute resolution.
A leading property attempted to track down the whereabouts of £1.4bn held in a tenancy deposit schemes
Renters could be having to stump up at least £1532 to move house – three times as much as previously reported.
Research in December 2015 suggested a third of renters have had a landlord or letting agent refuse to carry out repairs on their home.