Published: 7th Aug 2018

A new report from the Centre for Policy Studies has found the average renter loses over £300 per tenancy due to lost interest and inflation because of participation in the existing deposit protection schemes. The report says forcing tenants to pay large up-front deposits means many people struggle to move between properties. They also lose out on accruing interest on their money which instead is retained by their landlord or letting agency, and often face a real struggle to receive their money back. Polling by YouGov has shown that 43% of renters would support a system of deposit replacement insurance with a small cost rather than the current system of tenants paying large upfront deposits. ‘Down With Deposits: The Case for Rental Insurance’, proposes that the Government should introduce an insurance system as an alternative to deposits which would allow renters to insure against potential damage or missed rent payments without having … (To read the full article, subscribe below)