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Loss of tenant deposit mainly caused by furniture damage

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Damage to furniture has been revealed to be one of the main reasons for a landlord to deduct funds from a tenant’s deposit at the end of a tenancy.

Loss of tenant deposit mainly caused by furniture damage
According to a new study, at least 29% of tenants lost some of their deposit because of damage to furniture, such as broken chairs, desks or door handles.

Meanwhile, 24% of tenants experienced deductions to their deposit due to marks on the wall, and 21% had money deducted from their deposit to pay for stains on the carpet.

There is always potential for a dispute between tenants and landlords when it comes to the deposit. In order to minimise the risk of a dispute developing, landlords are advised to make sure they have a full and professional inventory drawn up at the start and end of the tenancy.

However, the deposit should be held in a tenancy deposit protection scheme. The schemes available to landlords are: Deposit Protection Service, MyDeposits, and Tenancy Deposit Scheme. Landlords and potential landlords can find out more about these schemes here.

In light of the importance of inventories for both landlords and tenants, a petition has recently been set up which is calling on the government to make independent inventory reporting compulsory. The Association of Independent Inventory Clerks is asking letting agents and landlords to sign the petition at a time when the government is already making changes to the way in which the industry is regulated.

For more information, click the link below:

Landlord Today 

Neil Jennings

Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.

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