Private landlords who do not comply with a legal requirement to join a tenancy deposit scheme are putting themselves at risk, an insurer has claimed.

LV= research has found that more properties are entering the rental market as homeowners decide to bring tenants into their homes rather than sell in the faltering market.

But a failure to comply with rental laws designed to protect deposits is putting both landlords and tenants at risk, LV= explained.

The insurance provider said that in the last three months, 56 per cent more properties have been put up for rent, 86 per cent of which are from people who do not wish to sell in current conditions.

But it also found that only 27 per cent have joined a compulsory tenancy deposit scheme.

The tenancy deposit scheme, which started in April 2007, not only protects deposits but makes it simpler to resolve disagreements between tenants and landlords and offers an incentive for renters to take care of the property.

Landlords who do not protect deposits can be made to pay three times the amount to the tenant.ADNFCR-2002-ID-18959950-ADNFCR

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