BIG DISPARTIES IN DEPOSIT SCHEMES

A large disparity between one of the tenant deposit schemes and the others has been revealed when it comes to disputes between landlords and tenants. Whilst the Deposit Protection Service and the Tenancy Deposit Scheme find in favour of the tenant 57% and 51% of the time respectively, MyDeposits finds in favour of the tenant a whopping 70% of the time. Any landlord protecting their tenant’s deposit with MyDeposits therefore only has a 30% chance of success in the event of a dispute compared to 43% or 50% if they used either of the other two schemes.

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