Home » Letting » Tenancy deposit protection is working say landlords

Tenancy deposit protection is working say landlords

"The NLA welcomes recent comments from the Government that it is happy with the performance and high standards demonstrated by the approved tenancy deposit protection schemes. All-in-all, tenancy deposit protection legislation has proven to be a success and current issues must not alter this message.

"Today, I have written to TDS seeking clarification about the likely impact of their price increases on landlords and the NLA will communicate their response in due course. It is quite clear that landlords should not be expected to foot the bill of these price increases and we will be monitoring the situation carefully. For the NLA the interests of landlords must be safeguarded."

Have your say on this story using the comment section below

0 thoughts on “Tenancy deposit protection is working say landlords

  1. m says:

    Considering the NLA are hand in glove with the Govt by administering and profiting from their own authorised scheme, they are hardly an impartial voice for landlords who are mostly out of pocket due to the Housing Act’s deposit clauses.
    Where is the protection for the Landlord in this?
    Considering that this skews all rights in favour of the tenants, perhaps the legislation should be referred to the DTI/Trading Standards due to being an unfair term in a consumer contract as it unfairly benefits tenants over landlords whose investment in the property far outweighs any deposit.
    What about a 3x fine for late rent payments?
    Or proper investigations into tenant damage?
    Impartiality and perspective is required and sadly lacking from the Govt & the NLA.

  2. Alec Hanson says:

    Well if we believe it’s working then great, but I have just had a bill from my Lettings Agent for £50 to cover the costs, backdated ??!??! for my current tenant and will have to pay the same each time a new tenancy takes place.

    How is that not impacting the landlords?

    Of course half the problem is the Letting Agent in question, but were working on that.

  3. Major Landlord says:

    If the NLA cares so much about Landlords’ interests, why is it that – if I create a new tenancy with the same property, tenant and deposit held – I have to “re-protect” the deposit and pay a new fee for doing so? Whereas, if I simply allow the tenancy to roll on as a periodic, I pay no more? What’s the difference? How many times will there be any dispute over repayment of the deposit, and thus work for MyDeposits to do? Either way, ONCE. But they don’t even give a reduced fee for renewals.

    Then they tell us gleefully that 90% of all deposit disputes are found in favour of the tenant. Great! No partiality there, then . . . .

    NLA is a 50% shareholder in the MyDeposits scheme, which I estimate collects around £10 million per year in protection fees. I don’t think their operating costs amount to more than a small office, a few staff and a website. So, what happens to the seven-figure profits, Mr. Salusbury?