There is now less than a month left until all eligible deposits in Scotland must be transferred to a tenancy deposit scheme.

The transfer of deposits has been phased in since the launch of tenancy deposit schemes in Scotland last July - but by 15th May 2013 all eligible deposits must be transferred to an approved scheme.



SafeDeposits Scotland, the leading tenancy deposit scheme provider in Scotland, and the Scottish Association of Landlords have joined together to urge landlords to sign up before the final deadline for transferring deposits.

Landlords who don't comply with the Tenancy Deposit Schemes (Scotland) Regulations 2011 risk having to pay their tenants up to three times the amount of the deposit. Tenants have up to three months after the tenancy has ended to make an application to the court.

We would like to remind landlords across Scotland that registration is straight forward and by signing up in advance of the deadline they can avoid financial penalties. Landlords - or letting agents acting on their behalf - can register with SafeDeposits in minutes through our website. Alternatively, registration can be completed by post or by phoning our Glasgow-based call centre on 0845 604 4345.

Director of Operations at SafeDeposits Scotland, Rebecca Johnston said: "With less than a month to go until the final deadline, we encourage landlords to register and transfer their deposits if they haven't already. It's quick and easy to register and helps resolve any disputes at the end of a tenancy. SafeDeposits also covers the cost of any disputes through our free alternative dispute resolution service.

"Those who don't register risk facing a hefty penalty. If found to have not complied with the Regulations, the tenant can sue their landlord for up to three times the amount of the deposit."

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John Blackwood, Chief Executive of Scottish Association of Landlords, one of our members, said: "Many landlords have already signed up to the scheme but those late stragglers could find themselves in trouble. While a great proportion of landlords are registered with the scheme, there are those who are lagging behind, or burying their head in the sand. Come 15th May, that will not be an option."

We would like to take a moment to thank our users for complying with the Regulations in good time and for choosing SafeDeposits Scotland as their tenancy deposit scheme provider.

Unlike other tenancy deposit schemes, SafeDeposits is a not-for-profit organisation, and any surpluses generated will be gift aided to our related charity, the SafeDeposits Scotland Trust - a grant giving charity designed to promote education, training and best practice in Scotland's private rented sector.

With over 40 million pounds of deposits now held by SafeDeposits, we realise that the majority of landlords have already complied with the Regulations - but we hope to further raise awareness before 15th May so that none are left behind.

We also ask that landlords and letting agents help us to share the deadline with others who may not yet be aware of the deadline: by telling other landlords, sharing this blog post, or posting the deadline on your social media, you could help someone sign up in time before the final deadline has passed.