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‘professional tenants’

Comment 6th July 2010

The Law requires that a rental deposit submitted by a tenant to a landlord should be lodged with one of three deposit schemes.  These schemes are not well publicised or known about.  If a landlord embarking on letting some property for the first time and is unaware of this deposit scheme, he/she can fall foul of either an unscupulous or 'professional' tenant who is fully aware of this requirement.  This can cost a landlord three times the original deposit amount and what needs changing is the law awards the tenant with three times the original deposit.   A penalty is not the issue, it is the fact that the tenant gains in these circumstances and can therefore withhold his knowledge to an unexperienced landlord knowing, at the end of his/her tenancy can claim the money.

In my case I was not even asked for the actual money only a certificate to show how the money haad been lodged – it cost me dearly in money, time, stress.  The scheme needs to be a little more 'landlord friendly' and not so biassed towards the tenant..

Why does this matter?

Because it is an 'open door' for a 'professional tenant' to make alot of money from an unknowing landlord.


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