The modern rental property is working harder than ever, with millions of people adopting remote or hybrid work patterns in the last five years and spending more time at home. This increased usage isn’t unreasonable: it’s reality. But under current rules, tenants are being penalised for “damage” that’s normal use, whilst landlords are absorbing more frequent replacement costs. Propertymark emphasises the importance of understanding fair wear and tear and applying it appropriately to avoid misunderstanding, confusion, and disputes.

Propertymark works to ensure our members understand the full extent of their legal obligations, and for letting agents this includes tenancy deposit protection. The Siddeeq v Alaian court case highlighted concerns about how and when prescribed information must be served, and with the implementation of the Renters’ Rights Bill on the horizon, it’s a relevant reminder that agents must be precise and compliant when dealing with tenancy deposits in England and Wales.

The UK Government has proposed to ban upfront payments of more than two months’ rent, claiming this will crack down on discrimination against lower-income renters by unscrupulous landlords. Propertymark has challenged this position, stating that a one-size-fits-all approach will end up blocking access to the private rented sector (PRS) for some tenants.

A survey of 1,500 UK renters has revealed that three in ten tenancies do not benefit from a property inventory, leaving agents, landlords, and tenants more vulnerable to costly disputes further down the line.

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.

Propertymark continues to assert there is no advantage to introducing rent controls and urges Scottish Ministers to properly evaluate the evidence both from UK and across the world. Whilst formulating our response to the most recent engagement questionnaire we hosted a roundtable with members and Scottish Government officials where the strength of feeling from agents was clearly communicated.

Letting agents and landlords will be familiar with this phrase, however grasping the meaning and recognising the limits of this term can often be a disputed topic, particularly when making a deposit deduction.

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.

Letting agents should be aware of the financial implications of failing to deregister tenant deposits after Propertymark reveals it is the most common cause of accounting discrepancies among its membership.

Propertymark was one of the founders of TDS in 2003 along with RICS and has been continuously represented on the Board ever since. Emerson, Propertymark CEO replaces Mark Hayward, who retired at the end of 2021.

Agencies outsource client accounting to reduce costs and focus on core business goals and planning. The challenge is finding the right solution and partner. An outsourcing partner who best fits with a business is key to a long, happy, and successful relationship—saving you time and money.

TDS has collaborated with various partners to improve the private rental experience for agents and landlords. New and improved features have helped to ensure that TDS stays up-to-date with current technology movements as the industry evolves.

In the final episode of the Move iQ Podcast’s sixth series, Phil Spencer is back talking to our CEO Nathan Emerson about what the Government is proposing for the future of the housing market such as the abolition of section21 and deposit passports. Nathan also gives an update on the different initiatives that we’re involved with and how we’re driving change for the greater good of the sector.