Deposit protection schemes beneficial for all

by Daniel Jones

Tenancy deposit schemes are beneficial for both parties involved in tenancy agreements, a buy to let and private rented sector expert at has said.

David Lawrenson explained that they were introduced to ensure that tenants received their deposits back, while also making sure landlords are not left with properties in a state of disrepair.

"The job of the property inventory in a let property is to state clearly what the state and condition of the property is at the beginning and the end of the tenancy," he continued.

Mr Lawrenson highlighted that having a sound property inventory in place can help landlords determine whether a deposit should be retained in light of damage to internal fixtures and fittings.

The Council of Mortgage Lenders recently reported that new buy to let mortgage lending in the first three months of 2011 totalled £2.9 billion.

This marked a decline of 3.5 per cent compared to the previous quarter, but is higher than the lending figure seen a year ago.

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Published on: May 16, 2011

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