Overseas students alerted to tenant deposit protection

Permalink: Overseas students alerted to tenant deposit protection
by Gill Montia

Online tenancy deposit firm, mydeposits.co.uk, is urging universities and colleges to ensure that overseas students are aware of the UK’s tenant deposit protection rules.

From April of last year, most landlords and their agents have been prohibited from accepting tenant deposits, unless they follow regulations laid down by Government.

The new legislation aims to provide tenants with recourse for landlords that do not refund a deposit at the end of a lease agreement, and are not justified in doing so.

Mydeposits.co.uk is concerned that of the 48,000 overseas students are studying in the UK during the current academic year, many may be unaware of their rights with regard to deposits.

With the average student rent at over £245 per month, the company suggests that students need to be motivated to keep their deposits safe and ask landlords for proof that their money has been placed in a Government-approved scheme.

According to David Salusbury, chairman, of mydeposits.co.uk, educational institutions have an important role to play in helping students understand some of the laws associated with their rented accommodation.

Firms that specialise in tenant deposit protection will usually provide a free and impartial dispute resolution service, if there is a disagreement over money deducted by a landlord.