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 LettingFocus.com 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.
- Landlord and Tenancy News from Lawpack: Solicitor-approved property inventory template with expert guidance on completing the legal form
Published on: May 16, 2011
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