21
Apr
Deposit schemes 'have improved buy-to-let relations'
The tenancy deposit scheme has improved the relationship between
buy-to-let investors and their tenants, it has been claimed.
Spokesman at the National Landlords Association Simon Gordon argued
that Tenancy Deposit Protection has been a good development because
both parties can look at the handling of such payments.
And while the organisation said at first that such large steps
should be taken, Mr Gordon asserted, now this has proven to have
worked well.
While initially, he remarked, interest was low in the scheme, in
time landlords have become more aware about the importance of such
measures.
"For those landlords who, through ignorance or neglect, do not
protect there are of course penalties that will severely impinge on
their lettings business," Mr Gordon commented.
Now, he added, a relatively small number of disputes regarding
deposits have to be handled by external parties.
Communities and Local Government says that the aim of new
regulations introduced under the Housing Act 2004 is to allow
tenants to receive their money back.