Tenants Deposits not protected valued at almost £1 Billion
The lack of protection leaves an average deposit of almost a £1,000 for every unsecured tenancy and the tenant wont have free access to dispute resolution should there be a disagreement over the deposit at the end a tenancy.
Failure to register an Assured Shorthold Tenancy can cost the landlord the equivalent of three months deposit. At today's rental values, this can mean that an average penalty of £3,000 is due to the tenant.
So tenants can find out more themselves and to make these checks easy, the Tenancy Deposit Scheme, the largest of the three authorised deposit protection schemes with nearly a million tenancies and 1.5 million tenants currently registered, has developed its website so tenants can check to see if their deposit is registered.
Tenants can now look up their own tenancy registration and view their Tenancy Certificate, which they should also have been given at the start. Checking registration and all the documentation is there in 14 different languages.
Tenancy Deposit Protection has been a legal requirement for the last four years for all Assured Shorthold Tenancies. These tenancies account for most rentals with a value of up to £100,000 a year.
We have some interesting info on deposits in our deposit help section ... http://www.tenantstips.co.uk/Home/Tenancy-Help/Tenancy-Deposit-Help
The Tenancy Deposit Scheme website is on http://www.tds.gb.com