TDS launches new end of lease guide for letting agents
The Tenancy Deposit Scheme has launched a new end of lease guide for agents, landlords and tenants on how to make concluding a lease easier – and it’s arrived just in time for the busiest day of the year.
TDS expects the third Thursday in September – the 21st of next month – to be the busiest period for tenancies coming to an end; the date has been calculated from the peak day over the last 10 years.
Last year, the third Thursday in September TDS saw 18,000 tenancies coming to an end, compared to the average of 1,300; the service says 2017 is looking to follow suit.
The downloadable end of lease guide gives the latest advice on what to do when a tenant is due to move out of a property, in particular highlighting the key points to address before, during, and after a check-out inspection.
The end of lease guide also gives advice on the best approach for negotiating the return of the deposit and promotes the use the new deposit deduction template, recently developed by TDS, to hasten an early agreement.
“We see many disputes where a few simple steps taken before the end of the tenancy could avoid problems later on. Tools like our new guide and the deposit deduction template provide a solid structure and basis for end of tenancy procedures and to improve deduction negotiations. If tenants better understand the reasons for deductions at an early stage and can see the justification for them, they are much more likely to agree” explains Michael Morgan, director of dispute resolution at TDS.