Don’t let a common issue cost you
At the end of the tenancy if you cannot agree over the return of the deposit then your tenant can raise a formal dispute with mydeposits. If this occurs, the impartial resolution service offered by mydeposits is available to help resolve the dispute and return the deposit fairly.
But do you know the most common reasons for why disagreements and disputes between landlords/letting agents and their tenants arise in the first place?
The biggest cause (30%) is over the cleanliness of the property when it’s time for your tenants to move out, which isn’t surprising considering the subjective nature of ‘what is clean?’. This is followed by damage to the property caused by tenants (20%). Here are the other most common causes:
General redecoration – 15%
Replacing mising/damaged property items – 5%
Non payment of rent/ outstanding bills – 5%
Whatever the reason, when you need to make a deduction to your tenant’s deposit you must be able to show why you are making it, otherwise it could cost you if a dispute arises. This is becuase unless you can fully evidence why you need to make a deduction to your tenant’s deposit, and a dispute arises, the adjudicator will have to award the disputed amount to the tenant. So it’s vital to prepare for the possibility of a deposit dispute from the very start of the tenancy.
Workshops to help letting agents
mydeposits have been dealing with deposit disputes for over six years, which means we’ve seen rather a lot of good and bad practice. Unfortunately, in some cases agents lose out in disputes and aren’t necessarily aware of where they are going wrong.
In order to help we’re hosting a series of educational workshops across the UK throughout February and March. The informative, hands-on sessions will be delivered by experienced Adjudicators from mydeposits and will provide you with a deeper understanding of the dispute resolution process.
The workshops will help you to understand what you must do in order to evidence any deductions you need to make to the deposit, and you’ll be able to see first-hand how an adjudicator reaches a decision when dealing with a dispute. All this will leave you much better prepared to deal with any future disputes.
The workshops, which also counts towards CPD hours, will:
- Address the most common dispute issues
- Identify reasons why agents lose disputes and suggest effective ways to avoid them happening
- Provide examples of what evidence to submit to help support a claim to the tenancy deposit
- Contain comprehensive case studies of real life disputes, allowing agents to judge for themselves
- Include advice and tips for compiling inventories
- Cover guidance on defining what constitutes ‘fair’ wear and tear.
So if you’re a letting agent looking for insight on how to be more successful with deposit disputes then get along to one of our workshops.
They’re taking place at various locations across the UK during February and March and cost £45 (£30 for my|deposits members) Places are currently available in the following locations:
Sheffield – 27th February
Exeter – 6th March
Southampton – 12th March
Oxford – 14th March
Cambridge – 19th March