Residential lettings deposit disputes 'lower than expected'
News Category: Industry News
Published: 12-Jun-2008
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There has been a lower than expected dispute rate between tenants and letting agents following the introduction of the mandatory Tenancy Deposit Scheme (TDS).
According to figures from the Association of Residential Lettings Agents (Arla), under two per cent of tenancies since June 1st 2007 have ended in a deposit dispute.
Chief executive of the TDS scheme, Lawrence Greenberg, claims that landlords, tenants and agents are more inclined to "honour the tenancy agreements".
However, he warned: "There is still a long way to go to ensure that everyone concerned understands the detail of the mandatory requirements for tenancy deposit protection.
"We feel it would be helpful to those involved, and perhaps reduce the number of disputes still further, if we were to produce guidelines on the cost of cleaning."
More than £546 million in deposits were held by the scheme during its first year. The average dispute resolution time was 28 days.
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