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Lettings agents must protect the interests of landlords, tenants, and their agencies, so understanding the basics of deposit protection is key and knowing the do’s and don’ts will help minimise disputes and reduce the risk of costly penalties.
Among the top sources of conflict at the end of a tenancy is cleaning, which accounts for the majority of disputes between tenants and landlords, a substantial 56% of all cases across the UK.
Any lettings portfolio should receive ongoing care and maintenance. A disorganised portfolio, weighed down by junk data, loose ends or lax processes enabling wrongdoing, can disrupt the flow of operations, reduce productivity, expose the business to risk and add unnecessary pressure on agents.
Annually, Propertymark PPD (Principal, Partner or Director) members have to submit a Client Money Examination Report to be inspected as part of their membership, and for every company, they are legally responsible.