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Tenancy scheme 'a success'

The year-old government-backed tenancy protection scheme has proved a success, then National Landlords Association (NLA) said today.

Mydeposits.co.uk, as the scheme is known, attempts to mediate between landlords and buy-to-let investors and their tenants in disputes over initial deposits.

The NLA said that there had been just 341 of these battles reported to the scheme nationwide - of which 64 cases were adjudicated through Alternative Dispute Resolution.

Of the cases settled in this way, 86 per cent found in favour of the tenant.

Chairman of mydeposits.co.uk, David Salusbury, commented: "After only 12 months, it is quite clear that tenancy deposit protection has clarified the rights and responsibilities of tenant, landlord and letting agent.

"With so few disputes actually being notified and only 20 per cent of these requiring external adjudication, it seems that this kind of self-regulation is proving to be extremely effective."

The scheme's anniversary was also welcomed by consumers' charity Citizens Advice, which aims to help people avoid and pay off debt.

Liz Phelps at Citizens Advice said: "It is real cause for celebration that one year on from the introduction of the government’s tenancy deposit protection - something we campaigned for over many years - one million deposits are now protected."

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