NUS Calls for Rent Refunds
18th Jan 2021
The chief executive of mydeposits has criticised a Which? report calling for reform of the deposit protection system.
Eddie Hooker suggested that since the formation of mydeposits 12 years ago, Tenancy Deposit Protection schemes have continuously delivered a good service for most tenants.
Mr Hooker said: "I recognise that the systems and processes of deposit protection may need updating to deal with today's rental market, having carried out extensive research I do not believe that overhauling the current system in favour of, for example, no deposit insurance alternatives, offers any greater protection for tenants."
However, the issue of affordability remains a problem, particularly for those renting in London who need to find an average of £2,500.
Eddie dismissed the idea of purchasing an insurance policy which reimburses landlords if the tenant doesn't pay for losses, suggesting such a scheme could place tenants in worse situation.
He added: "The fees and/or premiums charged over a 10 year renting period, could end up costing the tenant £6,000 to £7,000 for nothing. What many don't understand is that deposits are refundable if the tenant abides by the terms of the tenancy agreement. Insurance premiums are not."
18th Jan 2021
15th Jan 2021
14th Jan 2021
12th Jan 2021
12th Jan 2021
11th Jan 2021
11th Jan 2021
11th Jan 2021
8th Jan 2021