Editor's note: This brief was summarised by The Property AI Newsroom from a report by Letting Agent Today. Read the original article for full details.
Government Plans Custodial-Only Deposit Protection for Tenancies
The government wants all tenancy deposits to be protected via custodial arrangements, according to Letting Agent Today. The report states that this change will disrupt millions of tenancies.
This proposed move would affect how letting agents and inventory clerks manage tenancy deposits. The article highlights that the shift away from insured deposit schemes could have a significant impact across the UK rental sector.
Source: Letting Agent Today