Almost one in three tenants in England is unaware of their right to have their deposit ring-fenced so that their cash is kept safe, a housing charity found today.
Some 30% of 4,000 private tenants surveyed in England were in the dark about their landlords’ obligations to protect their deposits. With the average deposit a tenant has to hand over costing £992, failure to have deposits ring fenced could make them harder to claim back.Most landlords do the right thing but unfortunately some are still unaware of their responsibilities to protect the deposits that are given to them in good faith.
Thousands of renters who have huge chunks deducted from their deposit for no good reason, or who have to wait months to get their money back. Landlords are required by law to place tenant’s deposit in a Government-backed scheme within 30 days of receiving it. Those who fail to do so are liable to pay a penalty of up to three times the value of the deposit, which is awarded to the tenant.