Latest Blog PostFive Common Tenancy Agreement Mistakes
Landlords and Letting Agents
Information for landlords and agents
SafeDeposits Scotland is Scotland’s leading tenancy deposit scheme – with a unique position as the only scheme which is not-for-profit and based in Scotland. We currently hold 60% of all deposits safely protected by tenancy deposit schemes in Scotland. We aim to help make compliance with the Tenancy Deposit Schemes (Scotland) Regulations 2011 as quick and easy as possible.
The Tenancy Deposit Schemes (Scotland) Regulations 2011 have changed the way landlords and letting agents must handle tenancy deposits in Scotland. Since 2nd July 2012, landlords and agents in receipt of a tenancy deposit are obligated to transfer the deposit to a government approved scheme, who will hold the deposit until the end of the tenancy. The landlord or agent must also provide the tenant with particular key information, including confirmation of which scheme holds the deposit and when all or part of the deposit may be retained at the end of the tenancy. The deposit must be transferred and the Prescribed Information provided within 30 working days of the tenancy start date.
Should a landlord fail to protect deposits and/or provide information in accordance with the Regulations, tenants can apply to the Sheriff Court for sanctions against the landlord. If the Sheriff is satisfied that the landlord has failed to comply with the Regulations, they may order the landlord to pay the tenant up to three times the amount of the deposit. In addition they may order the landlord to submit the deposit to an approved scheme. A tenant has up to three months after the tenancy has ended to make an application to the court for sanctions against the landlord.
For further information on the Regulations and how SafeDeposits Scotland operates, please visit the Information section of our website.