Deposit protection by deposit experts

mydeposits Scotland offers two options, deposit protection or deposit replacement. We are the only deposit protection scheme in Scotland to give landlords a choice of both.

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Why choose mydeposits?

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Choice

You choose how to protect your tenant’s deposit. Use either our deposit protection or deposit replacement option.

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Free resolution

If, after discussing the return of the deposit and any proposed deductions at the end of the tenancy, you are unable to agree with the tenant, you have free access to our award winning adjudication service.

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Partnered with the NRLA

Backed by leading landlord association the NRLA, helping to raise standards in the private rented sector.

I have a new tenant. What do I need to do?

I have a new tenant. What do I need to do?

Step 1

Choose

Before taking a deposit, choose how you would like to protect it. You can protect the deposit for free and send it to us or offer your tenant our deposit replacement service.

If you have taken a deposit, you must protect it in our government approved deposit protection scheme within 30 calendar days.

If you would like to offer your tenant a deposit replacement option you can invite them to create a membership through your Ome account.

Once you have protected the deposit, you have 30 calendar days to tell your tenant (and anyone who contributed to it) where it is protected and provide other information, known as ‘prescribed information’. Don’t worry, we’ll help you with this.

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Free for landlords

There is no fee for using our deposit protection.

We hold your tenant’s deposit for the length of the tenancy.

Once you have protected the deposit you will need to send the prescribed information to your tenant within 30 working days of the tenancy start date.

You or your tenant can begin the deposit release once the tenant has moved out of the property. Where you both agree on how the deposit should be returned, we will pay it to the relevant parties within five working days.

The tenant may be able to raise a dispute within 30 working days of being notified of your release terms, if you are unable to agree on any proposed deductions.

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Free for landlords

It is free for landlords to offer a deposit replacement. The tenant pays a monthly membership fee.

You receive protection equal to five weeks’ rent without needing to take a deposit.

There is no prescribed information requirement when using a deposit replacement.

You’re still protected and should discuss any proposed costs with the tenant.

We are here to help you by resolving any disagreements you may have with the tenant over any proposed costs for breaking the terms of the tenancy agreement.

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When it comes to the end of a tenancy...

You may be unable to agree on any proposed deductions to the deposit with the tenant

Don’t worry, we offer a completely free dispute resolution service for all of our customers.

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