A report this week suggests that relations between landlords and tenants seem to be improving, and initiatives such as the Tenancy Deposit Scheme is the reason why.
At a time when many landlords look to include rent guarantee insurance as part of their property insurance, the report from Rushbrook and Rathbone, a well known property management agency, will assuage some of their fears. The document discloses that half of landlords in their portfolio do not make any claim on a tenants deposit when they leave a tenancy, while 75% of those that do make a claim settle for amounts less than £300.
Managing Director Sarah Rushbrook said: “We had 11 clients who chose to go to arbitration with TDS, the dispute service established to resolve tenancy deposit disputes. Out of those cases, three landlords received in excess of £250 and eight claims were settled under £250. Rushbrook & Rathbone have also seen only two cases of rent arrears and in both situations the rent was held from the deposit and paid to the landlord; they had no tenants within the last 12 months that missed numerous monthly rent payments. There is of course some wear and tear within any property, but it is most unusual for tenants to cause any serious damage. Our experience is that when a claim is made, in the majority of cases it is for small amounts and is easily settled from the deposit at the end of a tenancy. Landlords shouldn’t be put off as tenants aren’t as bad as they are made out to be.”
Such reports will delight Government sources as well as organizations who represent both landlord and tenant. It is imperative that the private sector, which will be so heavily relied upon to house tenants in the next decade, appears to be benefiting from government intervention.