Twitter Facebook RSS FEEDS

Students urged to protect deposits

Wednesday, 3 September 2008 1:15 PM

With the new academic year just about to begin students are being urged to protect the deposits they are likely to place for accommodation.

Those entering university this year will pay an average rent of £75 for their student accommodation, with those in London and the south-east expected to pay well above this.

Deposits for property are likely to be around four times this figure, leaving students exposed to hundreds of pounds worth of liability if they fail to protect their deposit.

As such students are being advised to take advantage of a government-approved scheme designed to protect their deposits; mydeposits.co.uk.

The scheme was set up last year and ensures all landlords register every deposit they take within 14 days, or they will face a court fine.

Furthermore, the scheme also offers an impartial dispute resolution service to tenants, landlords and letting agencies alike should disagreements arise over how much money needs to be returned at the end of a tenancy.

The scheme's chairman David Salusbury advised students: "It is important for students to ask their new landlord where their cash is and with whom it is being protected.

"The overwhelming majority of tenancies have always ended amicably but mandatory tenancy deposit protection is now just part and parcel of a landlord's legal responsibilities."

In its first year of operation (to March 2008), the scheme safeguarded 200,000 individual tenants' deposits, worth £177 million.

During the same period there were just 341 disputes, with tenants favoured in 86 per cent of cases, nearly half of whom had their full deposits returned.

Just 11 per cent of disputes resulted in landlords or letting agencies being allowed to keep deposits.

Chris O'Toole

Related stories

Terraced flats in London

How students can get deposits back from landlords

Students at the end of their tenancy want their deposits repaid in full and in a timely fashion. This is how to see that happens.

 Use extra cash from increased council tax on empty homes to help bring them back into use, says Shetler Scotland. Image: Thinkstock

Scottish government urged to invest in empties

Use extra cash from increased council tax on empty homes to help bring them back into use, says Shetler Scotland.

Landlords urged to protect rent

Landlords urged to protect rent

Landlords urged to protect rent

 Student working on laptop

Internet more important to students than location

Despite a reputation for prioritising partying over living conditions, modern students are as demanding as any other tenant.
Average deposit has risen twice as fast as house prices and almost four times as fast as incomes, says First Direct. Image: Thinkstock

Housing deposits rise tenfold in 20 years

Buyers hit as average deposit rises twice as fast as house prices and almost four times as fast as incomes, says First Direct.

Student moving house

Students' guide to renting property

Renting property for the first time can be daunting. We explain the moving process, from signing the contract to obtaining insurance.
Policeman accompanies family through riot scene

Riot victims urged to contact insurers

The ABI has urged individuals and businesses affected by the riots to contact their insurers as a matter of urgency.

 More home owners would take up Green Deal energy efficiency programme with lower VAT, say groups. Image: Thinkstock

Government urged to cut VAT on Green Deal

Coalition of 26 groups say 5 per cent VAT rate would encourage home owners to make property more energy efficient.

Not all neighbours are quite so friendly. Image:Thinkstock

Bid to protect tenants from neighbours from hell

Labour MP Frank Field introduces bill to give more rights to good tenants and extra priority for "good citizens".

 Rogue landlords will be hit by fines under new laws to protect tenancy deposits

New laws to protect tenancy deposits

New laws to protect tenancy deposits

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Beds Direct

Beds Direct Logo
Whether you've just moved into a property and need to furnish it or just fancy having something new to sleep on, Beds Direct offer you a wide array of beds to order online or via the telephone.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Propertywide

Propertywide Logo
Propertywide.co.uk is Countrywide plc's dedicated property website. Created to provide online access to all our estate agency, lettings and property related services, Propertywide.co.uk has been designed with the consumer at heart.

The 21st Century Radiator Company

The 21st Century Radiator Company Logo
Welcome to 21st Century Radiator Company. We supply a stunning range of traditional reproduction high quality cast-iron radiators and cast-iron baths. All our cast-iron radiators and cast-iron baths are brand new, fully tested and guaranteed for ten years.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

Designer taps can complete the look of your bathroom

When redesigning your bathroom, the first thing you're likely to pay attention to is what suite to choose. However, before you finish redecorating, think about the smaller features; after all, something like which taps you choose can complete your bathroom design.

Great tips for keeping brass door handles in top condition

Having brass door handles in your home can quickly give your place a sense of glamour and finesse. However, it is vital you put in the effort to ensure your brass fittings stay looking good. By following the tips below, you can be confident your handles will always be in peak condition.

What type of storage is best for small kitchens?

If you have a small kitchen you may well look enviously at the space and amount of storage in the country-style rooms that are beloved by property programmes on television. There may not be much you can do about the size of your room, but there are steps you can take to ensure the space is utilised as efficiently as possible.