Industry News
NLA: student deposits now protected
Posted on 24th August 2007
The National Landlords Association (NLA) has warned students of the dangers of losing their deposits at the end of their tenancy, as many leave home for the first time and move into rented accommodation.
The Department of Communities and Local Government has estimated up to 867,000 students have had landlords withhold some or all of their deposits at the end of their tenancy.
It says students moving into accommodation this year will now be protected by new tenancy deposit protection legislation which means landlords must now provide tenants with reasons for withholding money.
However David Salusbury, chairman of the NLA has warned this law will only help in cases where the landlord has obviously gone beyond their rights and said resolving disputes could be an extra cost.
"It's in the interest of both sides to avoid the hassle and expense of using the dispute resolution service under tenancy deposit protection," he said.
The NLA seeks to protect private residential landlords and ensure the private-rented sector is safe and a viable investment.