Tenants ‘must stick to contracts’ in order to avoid debt

Those who rent a home are being encouraged to stick to tenancy arrangements in order to avoid debt.

Mydeposits.co.uk, the government-authorised deposit protection scheme, has warned that many tenants are ending up out of pocket after breaking contracts.

Around 12 per cent of disputes in July ruled in favour of the landlord or agent, the organisation revealed, meaning that tenants are losing about £15,000 a month in deposits.

“Most landlords behave fairly … but it’s also incumbent on tenants to ensure they treat the property with respect and pay their rent on time,” remarked chairman David Salusbury.

Tenants falling into rent arrears is one reason for landlords to withhold money, the group noted.

Recently, research from Paragon Mortgages challenged the stereotype of students being messy and debt-laden, with 81 per cent of landlords saying they were punctual with rent payments and 90 per cent claiming they were well-behaved during tenancies.

By Jamie Price