Research from Money.co.uk has revealed the most common reasons why students’ deposits are withheld by landlords!
Results from the survey show that cleaning costs and damage to fixtures and fittings are the most common reasons why landlords hold some or all of a student’s deposit.
Data from the research shows that 38% of students will not receive their deposit in full at the end of their tenancy. Of those students, landlords typically keep 29% of their deposit, amounting to an average deduction of £164 each.
Cleaning amounted to over half of landlords’ reasons for not returning a deposit (52%), with students failing to return a property in an acceptable state of cleanliness for a full deposit return.
24% of landlords cited damage to fixtures and fittings as a reason for not returning deposits. Excessive wear and tear (22%) was also a popular reason. However, only 5% cited unpaid bills.
Unsurprisingly, two out of three students felt that their tenancy deposit was retained unfairly. Alarmingly, roughly one-quarter of students did not receive prescribed information on the tenancy deposit scheme their deposit was registered with. One in ten claimed that their landlord did not even protect the deposit! Despite, two-thirds of students claiming that their deposit was held unfairly, only 15% disputed the decision and got money back.
The moral of the story for students is, make sure you keep our digs in a decent state so there’s no reason for the landlord to keep cash at the end of your tenancy!