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Tenants in Scotland get deposit protection

Friday, 4 March 2011 12:23 PM

The Scottish Parliament has passed legislation paving the way for greater protection of tenants' deposits.

Deposit protection scheme mydeposits.co.uk has welcomed the laws, which ensure that tenants' security deposits are held safely by an impartial third-party trustee and returned at the end of the tenancy agreement.

Any dispute between landlord and tenant over how much of the upfront payment has been repaid, can now be resolved through an alternative dispute resolution process.

Eddie Hooker, chief executive of mydeposits.co.uk, commented: "We welcome news that, under these new laws, tenants in Scotland will be able to rent a home knowing the deposit they hand over is protected.

"This is a win-win situation for all of those involved in the private rented sector. For tenants, it ensures their rights are protected and, should all go well during the tenancy, they are guaranteed to get their full deposit back.

"Tenancy deposit protection is one of the many things that helps define the good landlord and letting agent and allows tenants to know they are being dealt with professionally," he added.

Hooker went on to say that tenancy deposit protection had been "embraced" by landlords and agents across England and Wales, where his organisation has protected more than one million tenants' money to date.

"We hope it proves as popular and successful in Scotland," he concluded.

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