Buy-to-let
An estimated 90 per cnet of students will live in the private rented sector at some point in their academic career, which can cost them more than they expect if they forfeit part of their deposit at the end of the tenancy.
According to SUIS/DCLG figures, up to 867,000 students have suffered the loss of all or some of their deposits in the past.
But students returning to university this year are the first to benefit from government legislation preventing their deposits from being withheld without due cause.
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Tenancy Deposit Protection became mandatory on 6 April 2007 landlords must now provide tenants with legitimate reasons for withholding all or part of their deposits at the end of the tenancy.
David Salusbury, chairman of the NLA, said: At the end of each academic year, we hear anecdotes of students who feel hard done by, having part or all of the deposit on their rented property withheld.
In a few cases, the landlord has clearly acted unreasonably and from this year the new tenancy deposit protection rules will enable the tenant to obtain redress. But it wont help students get their money back if they have failed to deliver their side of the deal.
According to the National Landlords Association (NLA) over half a million students will benefit from the protection afforded by TDP schemes when they sign their new leases this September.
Salusbury said: Its in the interest of both sides to avoid the hassle and expense of using the dispute resolution service under tenancy deposit protection. By following some simple rules, students can enjoy the experience of living away from home without losing their deposits.
They should ensure they agree a detailed inventory, including photographs of the condition at the start of the tenancy and be aware that they must return the premises basically in the same condition at the end of the tenancy after some allowance for fair wear and tear.
