Too few know about deposit scheme

MORE than half of people renting their home from a private landlord are not aware of a new scheme aimed at protecting their deposit, research suggests.

The Scottish Government brought in regulations requiring landlords and letting agents to hand over deposits to an approved third party for safekeeping. The scheme is meant to prevent landlords from holding on to tenants’ money on false grounds.

But a survey, by TNS-BRMB, has found 55 per cent of private tenants do not even know about the scheme. Three-quarters do not know that deposits need to be placed in a tenancy deposit protection scheme.

SafeDeposits Scotland is the only Scotland-based provider of a tenancy deposit scheme. It is run on a not-for-profit basis.