Tenants lose out on £15k of deposits each month Published: 01/10/2008

Those who rent property are losing out on around £15,000 a month in deposits by making silly mistakes, according to research.

Tenants are losing out because they are not sticking to the tenancy agreements, website mydeposits.co.uk warns.

On average the value of a deposit protected at mydeposits stands at £771. In July around 12 per cent of disputes were found in favour of the landlord or agent, meaning that tenants are losing out on significant amounts of money.

The company is warning tenants to make sure they read and understand the tenancy agreements when they sign them.

Top tips for keeping out of trouble include keeping the property clean, making sure rent is paid on time and making sure the deposit is protected.

David Salusbury, chairman of mydepositis.co.uk, said: "Most tenancies end amicably but it is a two-way relationship. Most landlords behave fairly and only withhold deposits where necessary.

"But it's also incumbent on tenants to ensure they treat the property with respect and pay their rent on time. If tenants act according to the rules laid out in their agreements, a landlord has no right to withhold their deposit."

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