Students are twice as likely to lose their deposit compared to other renters, according to the UK’s largest Deposition Protection Scheme, DPS.
The DPS’s records show that only 27.5% of students receive 90% or more of their deposit at the end of tenancies compared to 57.06%.
Julian Foster, Managing Director at The DPS, said:
Students must be aware of their responsibilities as tenants and act accordingly throughout their tenancy – or risk losing money when they move out. As well as asking their landlord to confirm where their deposit is protected, taking simple steps such as checking household inventories and communicating regularly with landlords can help ensure that deposits are returned in full. Deposit protection means both landlords and tenants can have peace of mind that the money is safe – and that there is a free, impartial adjudication service if the tenancy ends in a dispute.
Landlords needing to clean the property is the most common reason for deposit removal, at 32% followed by repairs (27%), redecoration (20%) and the replacement of lost or damaged items (19%).
If you need advice with housing, contact SUSU’s Advice Centre, and be sure to keep reading Wessex Scene as we bring you our upcoming series on student housing.
Originally published in Wessex Scene.