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36% of tenants' deposits not returned

Friday, 21 December 2007 12:00 AM

Over one in three tenants say they have moved out of a property to find they have not had their deposit returned.

That is according to a new survey of 1,000 Facebook users, which reveals 36 per cent of tenants do not get their deposits back, 27 per cent have had to wait over a month to see their cash again, and ten per cent get their deposit back when they return their keys.

The research also reveals many tenants (33 per cent) are reliant on their parents to get the deposit together in the first place, particularly as the average British tenancy deposit has reached around £750.

"Often tenants are stuck in a catch 22 when it comes to moving home as they need to move out to get their deposit back but can't move in to a new property until they have a lump sum," said Kevin Firth, client services director at the Deposit Protection Service, who carried out the research.

"The bank of mum and dad is often the only viable alternative to an expensive loan or dipping into savings."

Mr Firth explained under the Deposit Protection Service tenants' cash is returned within five days of the repayment form being sent back.

"We look forward to more and more tenancies coming under the scheme so we can help make sure tenants are not left hard-up and homeless," Mr Firth concluded.

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