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Tenant deposit awareness grows

Awareness of tenancy deposit protection (TDP) among tenants in England and Wales has risen in the last six months as new research from my|deposits shows. However, the majority of tenants say they have never discussed details of their tenancy deposit with their landlord or letting agent.

The findings – which come during national consumer week – show that just over seven in ten (72%) tenants say they were aware that TDP exists – up marginally by 3% since April 2012.

However, an astonishing 86% of tenants say they have not yet discussed the protection of their deposit with their landlord or letting agent, despite TDP legislation being in place for almost six years in England and Wales.

Eddie Hooker, CEO of my|deposits, said: “TDP has undoubtedly helped to raise standards in the private-rented sector in England and Wales but there is room for improvement and more needs to be done to build awareness among tenants.

“The legislation was introduced to protect the consumer and their deposit money so it’s vital that they talk to their landlord or letting agent and ask where their deposit has been protected.”

The research – which tracks awareness and attitudes of TDP – also shows that the majority of tenants do not go directly to the TDP schemes for more information about deposit protection:

32% would use an online search

27% would visit Government website Direct Gov

27% of tenant’s would go straight to the TDP schemes

Eddie Hooker added: “Online searches are a very useful tool but there can be lot of mis-information on the web about TDP, so it is important that tenants know where to look in the first place. Our website has a dedicated section for tenants, which contains a vast array of information about the tenant’s rights and helpful resources and guides on a range of deposit protection topics.”

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