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Tenants aware of deposit protection.

ALMOST 70 per cent of tenants in England and Wales say they are aware of Tenancy Deposit Protection (TDP) legislation, according to the latest research from tenancy deposit scheme MyDeposits.

The research, which looks at the impact of TDP five years after its introduction, also shows that just over half (51 per cent) of tenants surveyed say they were provided with details of the TDP scheme by their landlord or agent.

Furthermore, a recent survey of landlords found that 98 per cent took and protected a deposit.

TDP requires all deposits taken by landlords and agents on rental properties to be legally protected within a government approved scheme such as MyDeposits.

Landlords and agents must also provide tenants with the prescribed information within a 30-day period following receipt of the deposit.

Eddie Hooker, CEO of MyDeposits, said: "Tenancy Deposit Protection legislation was introduced to protect the consumer and their deposit money, so it's encouraging to see that most tenants are aware of TDP. Providing the tenant with details of how their deposit is protected is a vital step in the process and also a legal requirement."

He continued: "Sometimes this can get lost in all the paperwork landlords and agents pass on, so tenants need to look out for the prescribed information, usually in the form of a protection certificate."

For more information on TDP, visit www.mydeposits.co.uk or call 0844 980 0290.
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Title Annotation:Features
Publication:Coventry Evening Telegraph (England)
Date:Jun 5, 2012
Words:235
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