Tenant Deposit Schemes. While the majority of assured short hold tenancies (AST) finish amicably with good relationships, there will be instances where a landlord and tenant fail to reach an agreement on how much of the deposit needs to be returned to each party.
It is now a legal requirement for landlords to protect a tenant’s deposit for the duration of the tenancy by holding it with a third party organisation approved by the Department for Communities and Local Government.
This has been put in place to ensure the tenant gets their deposit back on the grounds that they have not breached their tenancy agreement.
Some of these third party organisations that are committed to ensuring issues are resolved fairly and efficiently are also offering an optional dispute resolution service, enabling landlords and tenants to receive professional and unbiased guidance on the best approach to settling their dispute.
Capita Tenancy Deposit Protection scheme is an example of one such organisation.
They are a leading Government-approved body safeguarding tenant’s deposits, and have recently partnered with Ombudsman Services, the not-for-profit consumer organisation, to provide and enhance its dispute resolution service.
The dispute resolution service provides free, expert advice until the dispute has been resolved.
As Capita’s managing director Gareth King explains, the real benefit to this partnership is that it provides “peace of mind that, should a dispute arise, those concerned will be entitled to expert and impartial advice from an organisation that has the welfare of both parties at heart.”
In the instance that a tenant has violated their contract and there is a legitimate need for the landlord to retain all or part of the deposit, then the dispute resolution service is available to offer advice and guidance to all involved, and endeavours to resolve the situation quickly and professionally while helping to avoid costly legal action being taken.