Students told: beware unscrupulous buy to let landlords

06 July 2010

Written by Michael Aglony

Buy to let landlords may find that more students are clued-up on the regulations and guidelines imposed on the private rented sector, as they have been advised to be wary of unscrupulous portfolio investors by two organisations, according to Landlordszone.co.uk.

The Deposit Protection Service (DPS) and the National Union of Students (NUS) have warned new university attendees and those changing their accommodation ahead of the new academic year to be careful who they rent from.

In order to provide information on the tenancy deposit protection scheme, a guide has been released, which explains the programme as well as the responsibilities and obligations of landlords.

The DPS exists to hold on to the money a tenant has put down on a house, free of charge, where it is protected even if the homeowner or letting agent goes into administration.

Ben Whittaker, NUS vice-president, commented: "Using a tenancy deposit protection scheme will provide students with peace of mind that their deposits are safely protected and if there is a dispute then students will have a means of redress."

This follows research by lender Kensington that showed two-thirds of tenants are likely to remain in rented property for the next five years.

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