Legislation in Scotland means landlords must now submit tenancy deposits to a tenancy deposit scheme to safeguard for the duration of the tenancy. Mydeposits Scotland is designed to support landlords and ensure they comply with their new obligations.
Legislation in Scotland means landlords must now submit tenancy deposits to an approved tenancy deposit scheme to safeguard for the duration of the tenancy. The law is retrospective, meaning that any existing deposits must be lodged for protection, as well as future deposits taken. There are penalties for those landlords who do not comply with the legislation including a fine of up to three times the deposit amount.
mydeposits Scotland is designed to support landlords and ensure they are compliant with this legislation. We want to ensure that you are able to comply with your legal obligations without complication, that you have confidence in us to hold the deposit money securely, and release it without delay at the end of the tenancy once both parties have agreed to its return.
- Free to join and use.
- Deposit money is held in safe, secure UK based bank accounts.
- Prompt repayment of the deposit money.
- Outstanding customer service and simple to use systems.
- Fast and fair dispute resolution.
- Guidance and support when you need us.
To join for free or further information visit www.mydepositsscotland.co.uk or call 0345 634 5400