Pulling together a deposit for rented accommodation can be a strain for many. So if there’s a tussle to get your deposit back when you eventually leave, you can end up with a truly unwanted housing hangover.
We know it’s become increasingly expensive to rent a property in the past five years.
Rental costs have risen by 37% and the average weekly rent in England now stands at £181 according to the National Housing Federation.
And with increased rents come increased deposits. In fact, the average rental deposit on a property currently sits around the £1,000 mark.
The dreaded deposit dispute
When I moved out of a shared house at the end of last summer, I had a bit of struggle to get my deposit back from a less-than-helpful letting agent.
I needed the cash for the deposit I was about to put down on my current flat; without it, I wouldn’t have had enough money without raiding my savings account.
After some increasingly stern words over a series of phone conversations with the letting agent, I finally managed to get my money back.
It wasn’t the full amount as I lost a fair few quid to cover the cost of some ‘administration fees’, but I was just so relieved that an agreement had been reached that I took what was left of my money and ran.
House of horrors
However, others have not been as fortunate. One of our members recently wrote to us saying that their son has been struggling to get his deposit back:
‘My son rented a room in private student accommodation. When he came to the end of the year we tried to get his security deposit back from the letting agent, with whom he took out the contract.
‘They said that we had to get it back from the owners of the house but we don’t have their details and the agents are not forthcoming. Who owes us the money? And how can we get it back?’
So, what could our member do to help get their son’s deposit back? Let us know your thoughts below, and soon we’ll tell you what we’d do as well.