ARGYLL and Bute Council is highlighting a new law which has come into force for private landlords across Scotland. Most tenancy deposits held must be put into an approved deposit scheme by 13 November 2012. The scheme is designed to safeguard tenants' deposits by putting them in the hands of an approved third party.
The scheme will mean any tenancy deposit accepted by a landlord or their agent will need to be deposited with an approved scheme within 30 days of a tenancy starting or renewing. The landlord will also have to provide the tenant with specific information including the amount of the deposit and the scheme where the money is being held until it requires to be repaid. The landlord will also be asked to provide proof of registration with the council when the deposit is paid over. Failure to place the deposit or provide the required information will mean tenants can seek up to three times the deposit amount from the landlord through the courts.
One of the approved schemes, Letting Protection Service Scotland, has already held four events across Argyll and Bute over the last two months. The other schemes available are Safe Deposits Scotland and My Deposits Scotland. Landlords should contact their chosen scheme directly to find out how to place their deposits.
Lead Councillor for Housing, George Freeman said: “I would encourage private landlords to make sure they are up to speed with this new legislation. Most private landlords will require to register with the council through the national central registration system. Anyone can check whether a landlord or property is registered and applications for registration can be submitted online at www.landlordregistrationscotland.gov.uk. Further information regarding private landlord registration can also be found on the council’s website at www.argyll-bute.gov.uk/privatelandlords .
"While this scheme is mandatory, the choice of approved company is entirely a decision for individual landlords to make.”