21-04-2008
Protection scheme strengthens landlord-tenant relationships
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The introduction of the tenancy deposit scheme last April has been a "success" and has led to an "improvement" in the relationships between tenants and landlords, an industry expert has claimed.
Last year, tenancy deposit protection came in to force in a bid to raise the standards of properties and landlord's insurance customers in the private rental sector.
A year on, the National Landlords Association (NLA) has praised the move by the government to introduce the legislation and the attitude of landlords since its introduction.
NLA spokesman Simon Gordon said that the rules have clarified the situations of both tenants and landlords.
He added: "Landlords have become more aware as time has gone on. For those landlords who, through ignorance or neglect, do not protect there are of course penalties that will severely impinge on their lettings business."