Conservative plans to introduce lifetime deposits – an idea first mooted by the RLA back in 2017- has been welcomed.

The Conservatives made the announcement on ‘Lifetime Rental Deposits’ in a recent press briefing.  Prime Minister Boris Johnson told journalists: “The costs of deposits make it harder to move. We are going to fix that.

“We will end no-fault evictions, so that landlords can’t remove tenants without good reason, and introduce lifetime rental deposits so renters don’t have to save up for a new deposit while their money is tied up in an old one.”

Under the current system many tenants have to raise a deposit ‘twice’, when moving. One deposit is tied up in the property they are leaving, while the second is needed to secure the property they wish to move into.

The RLA believes it would be easier for all involved if a tenant’s deposit could follow them from property to property, with the tenant making up any shortfall caused by deductions.

To see the RLA’s own six point Election Manifesto please contact us and Lucinda will email a copy to you.