The Guardian recently reported how some rogue landlords are exploiting a deposit protection loophole, enabling them to avoid returning deposits worth thousands of pounds.
Landlords in England and Wales are required by law to place a tenant’s deposit in one of three government-approved schemes. At the end of the rental period, landlords and tenants have to agree on the sum to be returned, or begin a formal (free) dispute process.
Under rules set down by the government, these insurance-backed schemes must “expel” members who don’t stick to the rules. Inevitably, it is bad or rogue landlords who get expelled – the very people tenants need protection from. In practice, that means deposits, which had been protected at the beginning of a tenancy, can become unprotected later on.
As a tenant of Belvoir!Sheffield you can be rest assured that your property is professionally managed in accordance with the law and beyond. We only deal with reputable landlords and ensure that everybody understands their obligations and the processes and procedures.
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please visit https://www.belvoir.co.uk/sheffield-estate-agents/ or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.com
For the most uptodate information relevant to landlords, vendors, and buyers of owner occupied and But to let property in Sheffield ensure you follow Belvoir! Sheffield on Google+, Facebook, Twitter or visit our website for property lettings or property sales.
