In the last year we’ve returned more than £3m of unclaimed tenant deposits thanks to our text messaging service; launched in April. We introduced the SMS text messaging service to remind users to re-claim their deposit at the end of their tenancy, a tactic that has so far helped £3m in unclaimed funds find its way back to its rightful owners.
As well as the introduction of SMS, we’ve worked hard to track the addresses and phone numbers of tenants; and informed all existing tenants that these details must be kept up to date so it’s easier to get in touch with them if money is unclaimed at the end of the tenancy.
Despite returning an impressive £3m, there are still 4,627 deposits worth £2m yet to be claimed and tenants are missing out on money which is rightfully theirs.
We’re committed to repaying deposits as quickly as possible and our SMS reminders have helped enormously with this challenge but unfortunately, some tenants are still not keeping their contact details up to date so their deposits are in limbo.
As soon as we have the relevant information from tenants we can refund the deposit, which I am sure will help tenants pay for their Christmas!