Why should I protect my tenant's deposit?

If you're a landlord in Scotland and take a deposit from your tenant, you must:

  • Transfer the deposit to a government approved tenancy deposit scheme;

  • Provide the tenant with particular key information.

The deposit must be transferred, and the key information provided to all tenants on the tenancy agreement, within 30 working days of the tenancy start date.

This is required under the Tenancy Deposit Schemes (Scotland) Regulations 2011.

What happens if I don't protect my tenant's deposit?

If you fail to comply with the Regulations, your tenant can apply to the Sheriff Court for financial sanctions. If the Sheriff is satisfied that you have failed to comply, they can order you to pay the tenant up to three times the amount of the deposit. A tenant can apply to the Sheriff Court during the tenancy or up to three months after the tenancy.

How do I comply with the Regulations?

To comply with the Regulations, you should:

  • Register an account with SafeDeposits online, over the phone, or by post;

  • Add the tenancy details (i.e. address, start date, deposit amount and tenant's name and contact details) to your account;

  • Transfer the deposit by online banking, debit card or cheque;

  • Provide the tenant with a copy of the:

    • Tenancy address;

    • Total deposit paid and the date you received it from the tenant;

    • Your registration status with the local authority;

    • Date you paid the deposit into a tenancy deposit scheme;

    • Name and contact details of the tenancy deposit scheme;

    • The reasons why you might keep some or all of the deposit when the tenant moves out, with reference to the tenancy agreement (e.g. rent arrears, cleaning, etc.).

To make providing the key information easier, we have a template, called the prescribed information form, available on our website.

Is there any cost?

No, SafeDeposits is free to use for landlords, letting agents and tenants.

Why choose SafeDeposits?

SafeDeposits is Scotland's leading tenancy deposit scheme, protecting deposits for approximately 60% of the market.

We're the only tenancy deposit scheme based in Scotland, operating from our office in Glasgow city centre.

We're an innovative partnership between landlords, agents and tenants. Our members are:
We're governed by people who understand and have a wealth of experience of the Scottish private rented sector. In fact, many of us are currently landlords or have been agents in the past, so we fully understand the challenges that can arise around the return of deposits.

Unlike other tenancy deposit schemes, we're a not-for-profit organisation, and our surpluses are 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.

You can register online, or for more information, please contact our Glasgow office.