Campaign group Generation Rent has criticised the fact
that renters are missing out on interest on their tenancy deposits, often ‘the
only savings they have.’ The group has launched a consultation on how the
tenancy deposit protection system could be reformed to benefit renters.
Introduced around 2007, the Tenancy Deposit Scheme (TDS) made it a requirement
for landlords to deposit money through a national scheme, rather than simply
hold tenants’ deposits ransom in their own bank accounts. According to
Generation Rent, the TDS has been a ‘vast improvement’, but tenants in Britain
are out of pocket to the tune of £95m in interest on deposits that they are
forced to hand to landlords. Read more on Inside Housing.
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