News In Focus
Tenancy deposit scheme regulations laid before Parliament
Regulations governing the approval of a national Tenancy Deposit Scheme are expected to become law in March after they were laid in the Scottish Parliament today.
Once operational, the scheme will provide access to a free and independent dispute resolution service, where landlord and tenant cannot reach agreement over the return of a deposit. Tenants will no longer have to take legal action to seek recovery of a wrongly withheld deposit.
The Scottish Government estimates that between 8,000 and 11,000 tenants annually have £3.6m of their deposits wrongly withheld. The scheme will be free for landlords and letting agents to participate in.
Housing and Communities Minister Alex Neil said: "For some time there has been a rising chorus of disapproval about unfairly withheld tenancy deposits. This Government is taking action to ensure tenants receive a better deal."
Mr Neil added: "The new regulations are streamlined with the emphasis on creating a cost effective approach to safeguarding tenancy deposits."