Home Top

Just one in four students receive full rent deposit back at end of tenancy – here are 12 tips to not fall into the costly trap...

Published: 07:21 EST, 23 September 2015 | Updated: 07:21 EST, 23 September 2015

View
comments

Students are far less likely to have their deposit returned to them at the end of a tenancy, data from the Deposit Protection Service suggests.

Its records reveal just 27.5 per cent of students receive 90 per cent or more of their deposit at the end of their tenancy, compared to roughly six in ten tenants nationally.

The DPS warns students must prepare in advance to ensure a smooth transition at the end of their rental contract to receive their bond back. Deposits can run into thousands of pounds, especially in London and the South East

University challenge: According to DPS data, just one in four students receive more than 90% of their deposit back. Pictured, the cast from BBC show The Young Ones

As part of tenancy agreements, landlords and letting agents take a deposit from tenants to guard against loss and damage and by law they must protect the money through an authorised tenancy deposit protection scheme – the DPS is the largest in the UK.

Others similar services include MyDeposits and the Tenancy Deposit Scheme.

The research suggests either landlords see students as a soft touch or students are not fully aware of the consequences of not collectively looking after the property they live in.

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.'

The need to clean the property after it has been vacated is the most common cause of deductions to tenancy deposits among students at 32 per cent.

This is followed by repairs at 27 per cent, redecoration at 20 per cent and the replacement of lost or damaged items at 19 per cent.

12 TIPS FROM THE DPS TO ENSURE DEPOSIT IS RETURNED

1. Make sure your landlord protects your deposit with an authorised deposit protection scheme.

2. When you move in, agree an inventory with other tenants and return it to your landlord.

3. If the landlord is unknown to you, make sure you check their name against your university or student union's list of approved landlords.

4. Remember every tenancy agreement can be different: make sure you read yours and understand your rights and obligations.

5. Record all communication with your landlord in writing, particularly any agreements you make, follow up phone calls with what was agreed by email.

6. Keep copies of any documents, receipts and email correspondence relating to your tenancy.

7. Report any defects with the property promptly and in writing, including the cause of the problem when you can.

8. If you ever take photos of problems in the property, make sure they are date stamped.

9. Remember your obligations as tenants are likely to be what are known legally as 'joint and several': if one individual tenant does not accept personal responsibility when something goes wrong, such as a breakage, then it becomes the joint responsibility of all the tenants.

10. Remember most tenancy agreements stipulate that tenants are liable for damage to communal areas as well as within your own room.

11. Remember liability generally extends right until the end of the tenancy: if you move out before other tenants, you could remain jointly responsible for the property.

12. Attend the checkout inspection at the end of your tenancy and take your own photographs if necessary.