21 Apr

Deposit schemes 'have improved buy-to-let relations'

Deposit schemes 'have improved buy-to-let relations'

The tenancy deposit scheme has improved the relationship between buy-to-let investors and their tenants, it has been claimed.

Spokesman at the National Landlords Association Simon Gordon argued that Tenancy Deposit Protection has been a good development because both parties can look at the handling of such payments.

And while the organisation said at first that such large steps should be taken, Mr Gordon asserted, now this has proven to have worked well.

While initially, he remarked, interest was low in the scheme, in time landlords have become more aware about the importance of such measures.

"For those landlords who, through ignorance or neglect, do not protect there are of course penalties that will severely impinge on their lettings business," Mr Gordon commented.

Now, he added, a relatively small number of disputes regarding deposits have to be handled by external parties.

Communities and Local Government says that the aim of new regulations introduced under the Housing Act 2004 is to allow tenants to receive their money back.ADNFCR-1222-ID-18560890-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.