SureHome property news
Tenancy Deposit Scheme to be introduced in Scotland
Feb 2, 2010
Such a scheme has been in operation for some time in England, where there are two different methods: custodial and insurance backed. With the custodial method, the deposit is held in a central deposit scheme account and not by the agent/landlord. With the insurance backed scheme, the landlord or agent holds the deposit as normal but an insurance policy is taken out at the time that the deposit is taken. The insurance policy is intended to cover the cost of any dispute.
Introduction of the scheme has been opposed by the Scottish Association of Landlords (SAL) due to the experience we have had with the Landlord Registration scheme which most agree is badly enforced and therefore effectively useless.
There has not yet been an announcement regarding a timescale for the introduction of a scheme in Scotland.
See the original government announcement here.
(SureHome are the letting agents Glasgow landlords depend on for quality property management services.)
