Are tenancy deposits worthless for rogue tenants?

periodic inspections

A new report has revealed some of the most interesting things that tenants have taken from their rental property at the end of their tenancy agreement and have caused concern over deposits.

30% of tenants actually believe it is reasonable to take things that they don’t own when moving out!

Items taken

The types of most unusual items taken from a property are much more than pots or pans. A number of respondents have admitted to taking televisions, fridges, wardrobes and sofas!

Over 20% said that just wanted to take the items, while others said they didn’t think their landlord would notice, or simply forgot that the items weren’t theirs.

Ajay Jagota, of sales and lettings firm KIS, suggests that these figures are a stark reminder for investors to take out a solid landlord insurance policy.

Are tenancy deposits worthless for rogue tenants?

Are tenancy deposits worthless for rogue tenants?

Deposit disputes

Mr Jagota, a long-term opponent of rental deposits, said: ‘It’s not just a case of some tenants taking everything but the kitchen sink, in some cases they take that too! I’ve seen entire entire boilers and copper pipes taken from rental properties and heard of tenants helping themselves to the tele, a DVD players and even a king sized bed.’[1]

‘In that case, and I’m sure many others too, they also left the property in poor condition and owing their landlords hundreds of pounds in rent – so the deposit they left behind didn’t come close to covering the costs their landlord was left with.’[1]

Jagota went on to observe: ‘These costs all add up – say £2000 for a boiler, £400 for a new bed and mattress, £250 for a new fridge-freezer, £150 for a decent-sized telly. And it’s the next tenants who will lose out when rents go up to pay for it all.’[1]

‘It’s yet another reason why landlords and letting agents need to rethink how they rent out homes. Not only does a deposit price good tenants out of your property, it clearly doesn’t deter the bad ones from stealing from you – or pay to put things right when they do. Deposit-free renting with comprehensive landlord insurance does. So why do any differently?’ he concluded.[1]



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