Protected deposit scheme soon

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MORE than 70 per cent of tenants in the UK say they would challenge their landlord if they find that their deposits are not protected.

A survey, conducted by The Letting Protection Service Scotland of landlords and tenants throughout the UK found that the vast majority of tenants say they feel safer knowing their deposit is held independently as a result of tenancy deposit protection legislation.

Although the scheme has been in operation in England and Wales for some time, renters and landlords in Scotland will benefit from the introduction of tenancy deposit legislation this year, making it compulsory for landlords and letting agents to protect tenants’ deposits with an approved third-party scheme.

Kevin Firth, director of the LPS Scotland, said: “Our research demonstrates that the introduction of deposit protection rules in Scotland will benefit both landlords and tenants, and highlights that communication between tenants and landlords is key to the success of the scheme – with over 70 per cent of tenants learning about the legislation from their own landlord.”