Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
Over one million landlords may switch to deposit alternatives
More than one million landlords could switch to alternative deposit products if the Government proceeds with proposals to abolish insured tenancy deposit schemes, according to research reported by PropertyWire.
The research shows that 9% of landlords would move directly to alternatives, while 26% said they would be guided by tenant preference.
What this means for agents
The findings suggest that any move away from insured tenancy deposit schemes could prompt a significant shift in how deposits are handled across the private rented sector. Letting agents and inventory clerks should monitor the Government's proposals, as changes to deposit protection arrangements could affect how deposits are administered and documented at the start and end of tenancies.
Source: PropertyWire