£500MILLION TENANT DEPOSITS SAFEGUARDED
Half a billion pounds in tenants’ deposits has been safeguarded by the Tenancy Deposit Scheme in less than a year since deposit protection and Alternative Dispute Resolution became mandatory.
Figures released by the Tenancy Deposit Scheme come five weeks before the first anniversary of mandatory operations. By 1 March 2008, the scheme covered nearly 450,000 tenancies, housing close to 700,000 tenants in property owned by 355,000 landlords. These figures are rising by an average of 7.5 per cent a month.
During 2007, an average of 127 disputes a month were resolved through Alternative Dispute Resolution. This is more the double the number handled under the voluntary deposit protection. The number of disputes sent to the Scheme continues to rise.
April 2008
