A quarter of letting agents are concerned about tenancy deposits compliance, a new study has revealed.
A poll by the Tenancy Deposit Scheme (TDS) found they are concerned that a lack of accurate and up-to-date knowledge could result in receiving a penalty for non-compliance (27%), as well as not having the evidence needed to support a dispute case (25%) and receiving complaints or bad reviews (24%).
It reports that while awareness of the tenancy deposit protection process is generally good, 57% of agents believe a short course or workshop on deposits or resolution would help them build further knowledge.
Debbie Davies (pictured), head of sales and marketing, adds: “With so much changing legislation over the past couple of years, we wanted to ask landlords and agents if they were confident about tenancy deposit protection, as the ramifications for errors can be costly.”
TDS has successfully moved its training courses online during the pandemic.
The foundation course takes landlords and agents through the timelines and requirements of tenancy deposit protection, helping them avoid costly errors when registering a deposit.
Its adjudication workshop is aimed at property managers, administrators, inventory suppliers, and landlords, who study the Alternative Dispute Resolution Service, looking at the kind of evidence an adjudicator looks for in a tenancy deposit dispute.
Both courses are live and interactive and give attendees the chance to ask questions and share their experiences.