The number of deposit disputes in England & Wales is extremely low, according to official figures released by the Department for Communities and Local Government (DCLG).
The Government figures show that of the Seven million deposits that have been protected since the launch of the legislation in 2007, only less than 92,000 have ended up requiring formal dispute adjudication. this equates to just 1.3 %.
All Tenancy Deposit Protection (TDP) schemes are required to provide a free and impartial service to landlords and tenants who are unable to reach an agreement over the return of tenancy deposits.
Complaints about deposit protection (as opposed to disputes) and the service provided amount to just 10,657 across all three schemes since their inception, which accounts for just under 1,800 complaints a year.
The figures were calculated by combining information provided by all three TDP schemes that operate in England & Wales; my|deposits, The Deposit Protection Service and The Dispute Service.
Eddie Hooker, Chief Executive of the my|deposits, said: “It’s good news for tenants, as it shows the vast majority are happy with the return of their deposit at the end of the tenancy. It also shows that the relationship between landlord/agent and tenant is improving.”
The official government figures also show that the total number of deposits protected last year, which stands at 2,659,301, totals a massive £2.6bn (£2,637,843,361).