16 December 2008

mydeposits.co.uk has advised tenants not to fall foul of their tenancy agreements during this year's festive fun and frolics.

'Tis the season to be jolly and tenants up and down the country are sure to be throwing Christmas and New Year parties in the next few weeks, but a little preparation can prevent costly Christmas catastrophes from spoiling the festive period.

Cleaning costs are one of the most common reasons for landlords withholding all or part of a deposit at the end of a tenancy, accounting for 38 per cent of all deposit disputes. Therefore, it makes sense for tenants to take action and protect easily damaged fixtures and fittings from overzealous party guests: first rule, shoes off at the front door!

Tenants can avoid expensive cigarette burns in the carpets by asking guests to smoke outside, while moving precious objects into a room which is shut off from the party will protect them from the dangers of vigorous dancing.

David Salusbury, Chairman, mydeposits.co.uk, commenting on the hidden hazards of festive parties, said:

"Christmas and New Year gatherings pose a number of hazards which could cause tenants to lose their deposits. A hangover may only last a day but tenants could find themselves paying for a festive party months after the fun has ended.

"Tenants who prepare by taking simple steps to protect the properties they rent will avoid costly accidents and ensure that the festive period passes without incident."

For further information and case studies of tenants, landlords and letting agents who have been using mydeposits.co.uk, please contact:

Ellie Irwin, mydeposits.co.uk
E:

ellie.irwin@landlords.org.uk 

* The professional bodies are:

• Association of Residential Letting Agents
• National Association of Estate Agents
• National Approved Lettings Scheme
• Royal Institute of Chartered Surveyors

For further information and case studies of tenants, landlords and letting agents who have been using mydeposits.co.uk, please contact:

Steven Hilton
mydeposits.co.uk
Email:

steven.hilton@landlords.org.uk
Tel: 020 7840 8906
Mob: 07508 031 084

Notes to editors:

About mydeposits.co.uk:

Mydeposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government. Landlords wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.

About Hamilton Fraser Insurance:

Hamilton Fraser Insurance is the trading name of HFIS plc, a long-established insurance broker, authorised and regulated by the Financial Services Authority. Hamilton Fraser provides insurance services to clients throughout the UK and is located in New Barnet, Hertfordshire. Hamilton Fraser is a major player in the highly specialised property insurance sector, and offers a tailored product to both residential landlords and managing agents. The NLA and Hamilton Fraser have a long-standing relationship, with Hamilton Fraser offering its range of Landlord Solutions insurance products to members of the NLA.

About the National Landlords Association:

The National Landlords Association (NLA) exists to protect and promote the interests of private residential landlords. With almost 20,000 individual landlords from around the United Kingdom and over 90 local authority associates, it provides a comprehensive range of benefits and services to its members and strives to raise standards in rented accommodation. The NLA seeks to safeguard landlords’ legitimate interests by making their collective voice heard by local and central government and the media. The NLA seeks a fair legislative and regulatory environment for the private-rented sector while aiming to ensure that landlords are aware of their statutory rights and responsibilities.