Buy-to-let mortgage holders offered tips by mydeposits.co.uk

Date:Friday 22nd October 2010
Author: Max Freedman

A representative from mydeposits.co.uk has highlighted the importance of communication between buy-to-let mortgage holders and their tenants.

Eddie Hooker, chief executive of the organisation, stressed the significance of both sides understanding their obligations.

He remarked: "The good news is the vast majority of tenancies end without problems at the end of the lease, with no dispute raised. Communication between both parties is the key."

Mr Hooker suggested that landlords inspect properties with their tenants and have a discussion over how much of the deposit should be returned.

In his opinion, this can save a lot of bother, as there is no need to go through a dispute resolution process.

According to a survey by mydeposits.co.uk, one of the main reasons for disagreements is in relation to the amount of the deposit a landlord can keep to repair or clean a property.

This week, National Landlords Association chairman David Salusbury suggested demand in the private rental sector could be set to rise further as a result of the recent government spending review.