Over half of letting agents want to know more about deposit protection

29 March 2021 | General

Over half (57%) of letting agents feel that tenancy deposit protection (TDP) courses would be beneficial according to a new poll by the Tenancy Deposit Scheme (TDS).

Whilst knowledge is generally good regarding the TDP process, 57% of agents said a short course or workshop on tenancy deposits or resolution would help them build further knowledge. A further 24% said they would be potentially interested in learning more.

The agents who responded were most concerned that a lack of accurate and up-to-date knowledge could result in receiving a penalty for non-compliance (27%), not having the evidence needed to support a dispute case (25%) and receiving complaints or bad reviews (24%).

Debbie Davies, head of sales and marketing at TDS, said: “With so much changing legislation over the past couple of years, we wanted to ask landlords and agents if they were confident about tenancy deposit protection, as the ramifications for errors can be costly.”

Over the past six years, TDS has been providing property professionals with training in TDP and tenancy deposit disputes through its TDS Academy. Due to lockdown, the TDS Academy took its courses online.

The TDS Academy courses give all attendees the platform to broaden their knowledge on deposits and disputes in the virtual environment whilst also gaining valuable Continued Professional Development (CPD) points. There are two courses currently available from TDS Academy: The TDS Foundation Course and the Adjudication Workshop.

The TDS Foundation Course, takes landlords and agents through the timelines and requirements of TDP, helping delegates avoid costly errors when registering a deposit. It also provides guidance on the lifecycle of a deposit, from registration and repayment to the alternative dispute registration process. Attendees learn about common deposit issues, the evidence required, and how to prepare a deduction claim.

The Adjudication Workshop is intended for property managers, administrators, inventory suppliers, and landlords. TDS adjudicators teach delegates how to think like an adjudicator and take them through the Alternative Dispute Resolution service (ADR), looking at the kind of evidence an adjudicator looks for in a tenancy deposit dispute.

This post has originally been featured in Property Wire.