These are tough times for everyone, and disputes are likely to occur. However, there will always be disputes between landlords and tenants.
At Just Lets, we aim to help you manage these disputes, and hopefully minimise the disruption at your rental property.
The headline figures, according to recent data provided by The Dispute Services, TDS, are as follows:
- The private rented sector (PRS) remains larger than the social rented sector in England, while smaller in Wales.
- The number of private rented homes has risen in England from 2.13 million in 2001 to 4.8 million in 2018 and in Wales from 90,000 to 204,000.
- The value of tenancy deposits has increased year on year from £885,098,501 in March 2008 to a total of £4,307,902,071 in March 2020.
- The value of the average deposit has increased from £880 in March 2010 to £1,040 [a drop from £1,108 in the previous year] in March 2020.
- There has been an increase in protected tenancy deposits with 924,181 protected in March 2008 to 4,141,467 protected in March 2020.
Dispute numbers have risen in recent times
- Adjudications completed by all tenancy deposit schemes has risen from 458 in 2008 to 34,993 in 2020.
- Since 2013, the percentage of total deposits protected resulting in a dispute, across all tenancy deposit protection schemes, has remained low, ranging between 0.82% and 0.92%.
- Currently the rate sits at 0.84%.
Reasons for disputes in England and Wales
- Of the cases submitted to TDS Insured in 2019-20, cleaning appeared as a reason in 42% of cases, with damage arising in 41%.
- 74% of disputes raised with TDS Insured were raised by tenants in 2019-20, with 19% raised by the agent and 7% raised by the landlord.
Reasons for tenancy deposit disputes in TDS Insured in 2019/20
- Cleaning 42%
- Damage 41%
- Redecoration 39%
- Gardening 23%
- Rent arrears 14%
This information should be of benefit to landlords and tenants. Tenants should be looking to reclaim all or most of their deposit, so it makes sense to focus on the problems that often lead to disputes. This should see tenants cleaning the rental property on a regular basis.
There is also a lot to be said for landlords encouraging tenants to maintain clean standards in the rental property. Regular visits are a common tip, but some landlords have achieved great success by buying cleaning products for the tenant.
If you consider this as an investment, it will often pay off in less time and money wasted, making the changeover period easier.
If you have to waste time cleaning property at the end of a tenancy, this will delay you from moving a new tenant in. Void periods cost landlords money, so you should look to minimise this time, and encouraging tenants to clean throughout the tenancy can deliver fantastic results.
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
You can find Just Lets Peterborough at 142 Oundle Road, Peterborough, Cambridgeshire, PE2 9PJ. Feel free to email us at email@example.com or call us today on 01733 346255.