21
Feb
2013

Tenants missing important deposit information

Tenants in Scotland could be missing vital information which can affect the return of their deposits at the end of the tenancy, according to recent research* conducted by the Government-approved tenancy deposit protection (TDP) scheme, my|deposits Scotland.

The findings, which come six months after the introduction of TDP in Scotland, show that just two-fifths (41 per cent) of tenants say they looked over the property’s inventory in detail at the start of the tenancy. Furthermore, only six in ten (59 per cent) say they read their tenancy agreement thoroughly when they moved in.

The research also shows that the vast majority of tenants (92%) have not yet discussed the protection of their deposits with their landlord or letting agent.

my|deposits Scotland has produced a series a guides and information, including a guide to negotiation for landlords, agents and tenants. The guidance focuses on the importance of communication between parties and aims to resolve issues that could otherwise end up in a formal deposit dispute.

Sean Hooker, Business Development Manager, my|deposits Scotland, said:

 “Tenants should make sure to read the tenancy agreement and inventory carefully when they move in. The documents contain important information about deposit protection and often include the reasons why their deposit may be withheld.

“Failing to do so may lead to disagreements with their landlord or letting agent about deposit deductions when they move out and could mean risking some or all of their deposit or delays to its return.

“Communication is the most effective way to resolve deposit issues and we hope the guide to negotiation will be of practical use for those who have difficulties in reaching an agreement at the end of the tenancy”.

In the small number of cases where landlords and tenants aren’t able to reach an agreement over the return of the deposit, the matter can be resolved through my|deposits Scotland’s free alternative dispute resolution (ADR) service, based on the award winning service from the England and Wales scheme..

To see the guides to negotiation or for more information about disputes, deposits and deductions visit the my|deposits Scotland landlord, agent or tenant Resource Centre available at www.mydepositsscotland.co.uk.

Follow us on twitter @mydeposits_scot or read our blog www.mydepositsscotland.co.uk/blog

-ENDS-

* my|deposits TDP Tenant Panel – Oct 2012 (507 tenants surveyed)

For further information, please contact:

Sam Haidar, Senior Press Officer

sam.haidar@mydeposits.co.uk

020 7840 8925
M: 07508 031 084

 

NOTES TO EDITORS:

About my|deposits Scotland:

  1. my|deposits Scotland is the trading name of Tenancy Deposits (Scotland) Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver a tenancy deposit protection scheme under contract from The Scottish Government.
  2. my|deposits Scotland aims to support landlords and agents to comply with the legislation and provide everyone with the confidence that deposit money is held securely for the duration of the tenancy.
  3. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible.
  4. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records. For further information or to visit www.mydepositsscotland.co.uk
  5. The Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force on 7 March 2011. The Regulations set out the conditions that all schemes must meet before they can be approved by the Scottish Ministers. Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. 

 

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