mydeposits Scotland about deposit protection for tenants
Protect your deposit today
If you have taken a cash deposit, you must protect it in a government authorised scheme within 30 working days from the start date of the tenancy
A government-approved tenancy deposit scheme for secure living
Your tenancy deposit is in safe hands with mydeposits Scotland, a government-approved tenancy deposit scheme. This comprehensive booklet provides tenants like you with essential information about tenancy deposit legislation, mydeposits Scotland, the deposit return process, and dispute resolution.
Understanding tenancy deposit protection
When you rent a property, it’s standard practice for your landlord or their agent to collect a deposit as security for potential breaches of the tenancy agreement. In Scotland, the government has introduced deposit protection legislation to ensure the fair and swift return of your deposit at the end of your tenancy. Landlords and agents must place your deposit in a government-approved tenancy deposit scheme, subject to penalties for non-compliance.
Trust in mydeposits Scotland
We are an officially approved tenancy deposit scheme, providing landlords and letting agents with a free platform to safeguard deposits. Once your deposit is registered with us, it’s kept securely in a separate, ring-fenced account throughout your tenancy. Even in rare cases of a bank failure, your deposit remains protected, thanks to the financial services compensation scheme.
At the end of your tenancy, all parties should agree on the deposit’s return. If there are disagreements about deductions, we offer a free, impartial dispute resolution service to help find a fair solution.
How your deposit is protected with mydeposits Scotland
Within 30 working days of your tenancy’s start, your landlord or agent must register your deposit with mydeposits Scotland and provide you with vital information about its protection. This information is summarized in a Deposit Protection Certificate (DPC), which you should retain along with your tenancy agreement and other relevant documents.
Joint & several tenancy agreements
If multiple adults sign a single agreement for the same property and duration, all tenants share responsibility. Your landlord or agent should nominate a lead tenant to represent everyone regarding deposit-related matters.
End of tenancy and the deposit release process
To release your deposit, both you and your landlord/agent must authorise it. The process varies depending on who initiates it. If you begin the process, your landlord/agent has 14 days to respond and provide evidence. Once both parties agree, we release the deposit within five working days. Disputed releases lead to dispute resolution.
Notifying us of a dispute
While we encourage communication between you and your landlord/agent to resolve disputes, our free and impartial alternative dispute resolution service is available if needed. Adjudication relies on evidence, and its decision is binding, offering a quicker and cost-effective alternative to court proceedings.
General conditions
Please note that we may refuse to deal with a deposit dispute if it relates to matters beyond the deposit return, if it has already been resolved in court, or if court proceedings are underway. Additionally, disputes pursued in a vexatious or unreasonable manner may be rejected.
Confidentiality and Liability
All aspects of our dispute resolution process remain confidential, with exceptions as required by law. While we take care in selecting adjudicators, we do not accept responsibility for losses or expenses resulting from their actions.
For more detailed information, including our terms and conditions, visit mydeposits Scotland.
Protect your deposit today
If you have taken a cash deposit, you must protect it in a government authorised scheme within 30 working days from the start date of the tenancy