Member Article

Landlords ‘losing deposits through lack of education’ claims PWR Property

In light of a new report from the head of adjudication at the Deposit Protection Service (DPS), detailing that both landlords and tenants are failing to submit the necessary evidence for a successful deposit dispute, one Nottingham based property consultancy is advising individuals to use a professional agent.

There are strict time deadlines on submitting evidence, and this latest report demonstrates that both parties are either missing the deadlines, or failing to prove any evidence at all to the adjudicators.

Now PWR Property with offices in both Nottingham and Mansfield is striving to improve the situation, advising local landlords to seek professional advice.

Simon Perkins, partner at PWR Property, said: “We endeavour to arrange all end of tenancy checkout inspections face to face with all out-going tenants, rather than by the tenants just handing the keys in. This ensures that any issues can be pointed out, discussed and normally agreed there and then, rather than being discussed at a later stage away from the property, which is often not effective. This has seen a dramatic improvement in the number of deposit disputes.”

The property experts also believe that the key to successful dispute resolution lies with the production of a detailed Inventory and Schedule of conditions, which are prepared at the start of a tenancy and signed by the tenant, so that they acknowledge the condition and contents.

Simon added: “We prepare our inventories in-house by our experienced staff who have the knowledge of that particular property. We have extensive knowledge about industry expectations of ‘wear and tear’ and about the tenancy deposit scheme dispute procedures,

“Unfortunately we have had clients come to us in the past, who have had either very basic or poor inventories prepared (which do not give enough detail about condition) and inventories not signed by tenants.”

The tenancy deposit scheme regulations, which came into effect in 2007 have given tenants more protection, both to ensure that their deposits do not ‘disappear’ and to offer impartial adjudication for any end of tenancy disputes about deposit deductions. The Scheme’s view is that ’‘a deposit is the tenants and it is for a landlord or agent to prove that they are entitled to deductions from it’’

Simon added: “If the end of the tenancy is handled correctly by a professional agent, then a landlord has a strong chance of winning fair proposed deposit deductions, often without having to involve the tenancy deposit scheme. Therefore, a experienced and proactive letting agent is worth employing in this scenario.”

For more information, please visit www.pwrproperty.co.uk

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