The average tenant is now much more likely to stay in their rental property for longer. On the one hand this is a good thing as landlords do not need to worry so much about having an empty property, but on the other, longer tenancies mean tenants and landlords are more likely to end up in a dispute over the deposit.
Why do longer tenancies lead to more deposit disputes?
The longer someone stays in your property, the more likely it is that the property will be subject to wear and tear, and when this occurs, a landlord could decide to hold on to the deposit in order to cover the cost of repairs and cleaning bills at the end of a long-term tenancy. Should this happen, the tenants are then within their rights to turn to arbitration to try and recover their money.
How can deposit disputes be avoided?
As I have said many times previously, the best way to avoid costly deposit disputes is to ensure you have a comprehensive inventory in place at the start of any new tenancy agreement. Normal wear and tear is a fact of life with rental properties, just as it would be at home, but if you wish to avoid the hassle of arguments over who is responsible for damage, prepare a thorough inventory of the condition of your property that details the condition of everything in it. And since a detailed inventory is designed to protect both you AND your tenant, it is not unreasonable to suggest splitting the cost of having one professionally prepared.
