Government Urged To Change ‘Unfair’ PRS Deposit System

A new report calling on the government to change the way to the deposit system is run in the private rented sector has found that the average renter loses over £300 per tenancy. As part of the report, polling by YouGov has shown that 43% of renters would support a system of deposit replacement insurance with a small cost rather than the current system of tenants paying large upfront deposits. Forcing tenants to pay large up-front deposits mean many people struggle to move between properties. They also lose out on accruing interest on their money which instead is retained by their landlord or letting agency, and often face a real struggle to receive their money back. Read more on 24housing.

https://www.24housing.co.uk/news/government-urged-to-change-unfair-prs-deposit-system/