Just over 1% of deposit returns in England & Wales have disputes, according to the Department for Communities and Local Government.
Since the launch of deposit protection over seven million deposits have been protected, with only 91, 802 ending in formal dispute. Some critics claim that the scheme is unnecessary due to the relatively low percentage of issues, but in retort there have been few complaints about the process. (roughly 1800 per year across all the approved schemes).
Eddie Hooker, chief executive of my deposits, launched by the National Landlords Association, said: “Tenancy deposit protection was introduced to protect the tenant’s money so it is extremely encouraging to learn that only one per cent of tenants experience issues over the return of their deposit which they cannot sort out without the help of the schemes.
“It’s good news for tenants, as it shows the vast majority are happy with the return of their deposit at the end of the tenancy. It also shows that the relationship between landlord/agent and tenant is improving.”
Official figures show over £2.6bn worth of deposits were protected last year. Alex Barron of Huddersfield Letting Agent Martin & Co said “the scheme gives reassurance to the tenant and provides a fair service for legitimate agents and landlords. I would hate to think that the service was ever cancelled.”