Tenants Unhappy over Withheld Deposits
By |Published On: 10th July 2012|

Home » Uncategorised » Tenants Unhappy over Withheld Deposits

Tenants Unhappy over Withheld Deposits

By |Published On: 10th July 2012|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

Tenants Unhappy over Withheld Deposits

Tenants Unhappy over Withheld Deposits

 

Recordings from FindaProperty show a staggering amount of tenants’ deposit money has been withheld during the past three years.

Billions

The findings indicate that tenants have lost around £1.1bn during this period, averaging out at £367m per annum. 40% of tenants said that they had lost part of or all of their deposit, with the average price of money lost totaling £313 per tenant.[1]

Around 20% of tenants questioned said that they had in excess of £500 withheld. The same figure suggested that they were penalised due to damage caused by previous tenants, with 10% taking legal action to try and gain their money back.[1]

Common causes

Some of the most common reasons for deposits not being returned fully to tenants were costs of cleaning (37%) and damage to curtains/carpets (21%). Other reasons for charges were marks on the walls of the property (19%) and unkempt gardens (13%).[1]

A worryingly high 43% of tenants that experienced having their deposits withheld said that they felt the amount of money charged for carrying out any repairs seemed to be considerably more than what they would consider fair.

[1] http://www.landlordtoday.co.uk/news_features/Tenants-unhappy-over-witheld-deposit-money

 

 

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

Share this article:

Related Posts

Categories:

Looking for suitable
insurance for your
investment?
Check out our four
covers for landlords