Concerning new figures have revealed that there has been a sudden rise in the number of tenants complaining about their tenancy deposits.
Figures released in the most recent annual report from The Property Redress Scheme shows indicates that the number of tenants complaining about their letting agents has almost doubled in the year.
The data released from The Property Redress Scheme shows that complaints about letting agents have risen by 40% in 12 months.
Objections surrounding tenancy deposits are the second most-common complaint, amounting to 27%.
On the other hand, letting agent fees, set to be banned in England and Wales –were least complained about, making up just 6% of the total number of complaints.
The Property Redress Scheme has attributed the growth in complaints to customers being more aware of the process.
An investigation from Citizen’s Advice revealed that one in five letting agents had yet to join a redress scheme, over six months after it became mandatory.
Letting agents are now permitted to join one of three-Government licensed independent bodies, to whom tenants, landlords and leaseholders can take complaints which relate to a tenancy.
Ajay Jagota, founder of deposit-free renting solution Dlighted, commented on the results by saying: ‘A recent Parliament briefing document makes it clear that change is in the air when it comes to renting in the UK, noting as it does that the current tenancy deposit system is open to loopholes and abuse.
The Property Redress Scheme figures suggest that the government’s priorities for reforming renting may not be the same as Britain’s renters however – with tenants almost five times more likely to complain about deposits than they are about letting agent’s fees.’
‘It’s reassuring to hear the PRS believes the tidal wave of complaints it has experienced this year – a significant number of which relate to the out-dated tenancy deposit system- are at least in part due to increasing awareness about redress schemes, not least as research we carried out in the early days of the schemes suggested 99.5% of renters were unaware of their existence.
“I’m sure things are much-improved from the days when it was easy to find firms who simply hadn’t joined these supposedly mandatory schemes with five minutes on Google.’