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A hefty deposit

Catherine Deshayes

By now you might well be bored of reading about the credit crunch, economic downturn and general bleak outlook. But there's no doubt we're all having to keep a much closer eye on our wallets and for those people who rent, it's no different...

Moving into a rented property can be pricey and so it's never been more important to make sure you get your full deposit back when your current tenancy agreement comes to an end.

 The introduction of tenancy deposit protection (TDP) in April 2007 meant that tenants were given more protection than ever before from the small number of rogue landlords who withhold deposits for no good reason. Although nowadays TDP protects against such practices, tenants should still be looking after their properties.

 Taking care to keep the property in a reasonably clean state, pay rent on time and honour the terms of your contract should mean that your money is returned. However, the latest research from mydeposits.co.uk shows that these are the areas where you are most likely to lose your cash.

 Thirty-eight per cent of all landlord and tenant disputes handled by mydeposits.co.uk have centred on cleaning costs. Eleven per cent of disputes were about damage to the property, and four per cent concerned late payment of rent and bills.

Clearly each case needs to be looked at individually but as a tenant, you can make sure you are doing all you can to get your deposit back in full by following some easy steps:

 Make sure the property is clean before handing the keys back to the landlord.

Look after the property and the furniture during your time there.

Pay rent on time and let the landlord know well in advance if it is going to be late.

Read the terms of the tenancy carefully and stick to what has been agreed.

The final piece of advice, and arguably the most important, is to make sure that your landlord has protected your deposit. Although it is up to the landlord to comply with the law, you should ask to see proof of protection within 14 days of handing over your cash.

If the landlord does not demonstrate they have protected the deposit with a Government-approved scheme such as www.mydesposits.co.uk, they will be ordered by the courts to pay you three times the deposit amount, as well as facing other stiff penalties.

TDP was introduced to protect those who rent so it makes sense, at a time when every penny counts, to ensure your landlord is complying, and do all you can to make sure you get all of your cash back once the tenancy has ended.

Source: www.mydesposits.co.uk