Deposit protection 'improves relations' - buy to let mortgages

22 December 2008

Deposit protection schemes can improve relations between landlords and tenants, it has been claimed.

Tom Entwistle, the editor at online resource Landlordzone.co.uk, has said that such schemes should have a "positive effect" on the relationship between those with buy to let mortgages and their occupants.

It comes after government-approved tenancy protection programme mydeposit.co.uk stated that landlords must provide proof of any damage to a property in order to withhold deposits.

Mr Entwistle noted that this measure will act as a "safeguard" for tenants and landlords as "they are dealing with a third party".

He added that although some landlords abused the old deposits system, most buy to let investors are "reasonable" and do not charge for small amounts of damage.

David Salusbury, the chairman of mydeposits.co.uk, advised that preparing an inventory can help to provide evidence of any damage while bank statements can be used to highlight missing rent payments.