A third of tenants are aware of deposit protection schemes

A third of all tenants are aware of tenancy deposit protection schemes, a survey by the Tenancy Deposit Scheme reveals.

Letting agents and landlords were also questioned in the survey, carried out in May.

They showed a high level of awareness of mandatory deposit protection, but 38% felt negative about it and 34% were indifferent to the new requirements.

Despite this, 60% of all landlords had signed up for one of the three schemes.

A quarter said they do not take deposits at all and, as a result, fall outside legal requirements to join a scheme.

Lawrence Greenberg, chief executive of the TDS, says: “It is surprising and gratifying that such a high proportion of tenants are aware of the benefits of tenancy deposit protection so quickly after implementation.

Yet, these figures show that we still have a long way to go to get the message across to those who will benefit the most.

“There are still large numbers of landlords who we must presume are breaking the law because they have yet to grasp the fact that tenancy deposit protection is mandatory.”