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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

One in Five Tenants Don't Know if Tenancy Deposit is Protected

29th Jul 2019

According to the government's latest English Housing Survey (2017/18), around 20% of tenants do not know if their landlord or letting agent has protected their tenancy deposit.


deposit safe
canstockphoto.com


The English Housing Survey examined tenants' views and experiences of renting homes.

Just under three quarters (73%) of tenants who had paid their deposit before moving into a new residence reported it was protected, however one fifth were uncertain as to whether it had been.

The survey also uncovered the type and cost of fees that tenants had to pay prior to the ban.

The majority of tenants paid somewhere between £100 and £300 to their agents.

Just under a half (44%) of the 2,329 tenants that took part in the survey, reported that they had to pay fees for their current tenancy.

Non-returnable administration fees for references were the most common at 60%, followed by reference admin fees (43%), inventories and contracts (29%), finder's fees (29%), holding fees (non-returnable 12%, returnable 7%) and not forgetting the infamous ‘Right to Rent’ checks (9%).

The survey, contrary to media coverage, shows that the vast majority of renters were satisfied with their 'home'.

A trade body claims the English Housing Survey certainly does away with the view that renting does not create a 'safe' lifestyle for tenants. The body backed its claim by quoting findings that found 72% of renters who had stayed in an accommodation for under three years, had moved to another home through choice and not because of being evicted by their landlord.

The most common reasons for tenants who had moved in the past three years were, job related - 18% - finding a better area to live in -16% - upsizing to a bigger home- 13%.


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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

 

 

 


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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/