Overseas students don't know about deposit protection

mydeposits.co.uk, a Government-approved tenancy deposit protection scheme, is concerned that the rising number of overseas students may not be aware of deposit protection rules.

With almost 48,000 overseas students studying in the UK this year, mydeposits.co.uk advises universities and colleges to make sure that those moving into rented accommodation are aware of the law.

Without the right information there is the potential for a costly knowledge gap as the average student rent stands at over £245 per month.

Mandatory tenancy deposit protection law was introduced in England and Wales in April 2007 to ensure deposit disputes are settled in a fair way. All students need to make sure their landlord protects their deposit in a Government-approved scheme by asking to see proof of protection.

mydeposits.co.uk protects around 300,000 deposits and offers a free, impartial dispute resolution service if there is a disagreement over how much of the deposit should be returned at the end of the tenancy.

David Salusbury, Chairman, mydeposits.co.uk, is calling on all students to ensure their deposits are protected. He said: "Students arriving from overseas are going through one of the most exciting and busy times of their lives. However, it is important they understand some of the laws associated with their rented accommodation, and universities and colleges have an important role to play in this.

"Without knowledge of the rules regarding tenancy deposit protection, students could be at risk of not receiving a fair hearing when it comes to getting their deposit back.

"Although the vast majority of tenancies end amicably, it is in the interests of tenants to ask their landlord for evidence that their money is protected with a Government-approved scheme."

Students can find out if their deposit has been protected with mydeposits.co.uk by visiting the website or contacting our Customer Service Centre on 0871 703 0552.