Damaged furniture has been named the top reason for tenancy deposit deductions by landlords, according to a new independent study by letting agent Romans.
When letting a property, most landlords take a deposit from the tenant prior to the tenancy starting. This deposit offers a level of protection to landlords and means that, should the tenant breach the terms of the tenancy agreement, such as causing damage to the property or not paying the rent, the landlord can make appropriate tenancy deposit deductions.
The majority of the time, the landlord will have compiled an inventory report in order to clearly identify any issues or differences with the property at the end of the tenancy. This enables the landlord to quite rightly make tenancy deposit deductions as compensation.
So, what are the top reasons given to tenants as to why they had deductions made from their deposits?
Romans has highlighted a few common issues that are cited by landlords when making tenancy deposit deductions:
- 29% were due to broken chairs, tables, door handles and other items
- 24% were made because of marks on the walls (including finger marks)
- 21% of tenants had to compensate for carpet stains
- 12% of deductions were for redecorating the property without the landlord’s permission
- 9% were made due to mould
The Lettings Managing Director of Romans, Michael Cook, comments: “Returning deposits can cause disputes between landlords and tenants, so it is important that a detailed inventory is drawn up at the start, and a proper check-in and check-out process is followed.
“Deposit protection is essential for landlords, as it provides security that any damage caused can be repaired at no financial loss. It is mandatory that the tenant’s deposit is held in a deposit protection scheme, so both parties are protected.”
All landlords must also be aware that the Government has issued a draft Tenants’ Fees Bill that includes a cap on tenancy deposits of six weeks’ rent. This will limit how much you can take from a tenant as a security deposit.
What have you had to make tenancy deposit deductions for?