New Deposit Schemes
Since March 2011 the government requires all deposits to be paid into an approved deposit scheme. The scheme safeguards the deposit in case a landlord is bankrupt or withholds the deposit unfairly.
- the landlord has to pay the deposit into the scheme within 30 days of tenancy agreement signed
- it is free to both landlord and tenant
- landlord and tenant have to apply to have the deposit repaid at the end of the tenancy
- the deposit scheme repays the deposit to the agreed party within 5 days
- The landlord can no longer repay the deposit on the day you move out
- The deposit can no longer cover rent arrears during the tenancy
- Safe Deposit Scotland will send a certificate and their contact details as soon as your deposit has been received
- at the end of the tenancy, tenant and landlord can apply to have the deposit repaid online or by post
Will I get my deposit back?
Your tenancy agreement states the obligations you have as a tenant. Regarding the deposit repayment, these are:
- to keep the property clean and tidy
- to pay the rent on time
- to leave the property clean and tidy at the end of your tenancy
- you are responsible for any breakage beyond the accepted wear and tear
- you are responsible for council tax, utility bills and other supplies and services
If you fulfill your obligations, you will get your deposit back.
At the end of your tenancy, the landlord will meet with you and agree on the repayment of your deposit. Landlord and tenant will send corresponding applications for deposit repayment to Safe Deposit Scotland. Safe Deposit Scotland will repay the deposit within 5 days of receiving both applications. In the event of any shortfall concerning the tenant's obligations, tenant and landlord can discuss the reduction of the deposit repayment. Should they not agree, they can send differing applications to Safe Deposit Scotland, who will resolve the dispute impartially and quickly. In this case however, the repayment of the deposit can take a lot longer than 5 days.