Some good news on deposits for landlords and agents (my deposits.co.uk)

My Deposits has found some interesting statistics regarding disputes that are raised with them by tenants, which are sure to make landlords and agents happy.

Almost half of all disputes that tenants initially contact them with don’t end up going through to adjudication. In 40% of cases, the tenant will go back to the landlord or agent and come to an agreement amongst themselves over how the deposit is to be paid out.

When a tenant first raises a dispute, My Deposits offer them assistance and guidance on how to resolve the dispute. It’s one of the benefits for landlords and agents that use My Deposits – as they hold onto the money so can deal directly with the tenant when they move out.

Tenants are encouraged to speak directly with their landlord or agent and come to an agreement over the deposit return that is acceptable to both parties.

My Deposits has also found that just over 1% of all tenancies actually end in a dispute over the return of the deposit – that means nearly 99% of all tenancies end amicably! Its proof that tenancy deposit protection has helped to resolve the issue of disputes.

And it’s good news for landlords and letting agents who use My Deposits. Their advice quite often leads to the tenant negotiating with their landlord and coming to an agreement, saving both parties from having to go through the adjudication process, submitting evidence and waiting for an outcome.

For more advice on how to avoid disputes and have a successful tenancy, read their Guide to Deposits, Disputes and Damages in the guides section of our website.