Deadline day

If you’re a landlord, it is your responsibility to ensure your tenant’s deposit is protected in a government approved scheme. The Tenancy Deposit Schemes (Scotland) Regulations state that any deposit received before the 2^nd October 2012 (but on or after the 7^th March 2011) must be protected by the 13^th November 2012.

If you use a letting agent to help manage your properties, make sure you check that they are complying with the regulations and protecting the deposits. If a deposit is not protected the tenant can apply to the courts for up to three times the deposit amount – so it’s important to make sure this deadline is met!

If you are unsure when your tenant’s deposit needs to be protected, you can use our compliance calculator which will work it out for you.

If you would like to speak to someone about deposit protection and the effect of the regulations, our Regional Manager Anthony Cox is available to discuss the regulations, your responsibilities and our scheme. For more information, take a look at our website and FAQ pages.

Anthony’s tour de Scotland part 2

In part 2 of Anthony’s blog, he runs through some of the common questions asked during our free drop in sessions: For anyone that wasn’t able to visit us during one of our free drop in sessions, we thought it would be useful to list the answers to some of the most common questions we are asked. If you have any questions that aren’t answered here or you just want to find out more about us or the effect of the Tenancy Deposit Schemes (Scotland) Regulations 2011 (the legislation), you can always check out our FAQ pages, or email me.

Q. Your service is free - what’s the catch?

A. The legislation specifies that all schemes must operate a free to use service for landlords, agents and tenants: there isn’t a catch!  Interest earned on the protected deposits pays for the running costs of the scheme.

Q. I have a portfolio of properties for which I receive the interest from the deposit funds.  Will you pay me interest as otherwise this system is a cost to me?

A. The legislation ordered deposit protection schemes to be custodial only, which means we hold your tenant’s deposit for you. We are unable to pay the interest to you at this time.

Q. Why aren’t you affiliated with any landlord or tenant associations?

A.  We welcome members who are affiliated to a landlord or tenant association, but we pride ourselves on offering a completely independent and impartial service open to all.

Q. Will you come and visit my property should there be a dispute between myself and my tenant?

A.  This is not possible. The landlord and tenant must supply comprehensive relevant evidence to back up their claim or defence in the event of a dispute.  The adjudicators will never visit a property and it is unlikely that they will contact you to question your evidence submission.   We welcome all evidence submitted to us, and the landlady who took a photo of her bare feet to demonstrate how the hard floor in her apartment had not been cleaned was certainly innovative....

Q. I need the deposits for cash flow.  I just had to pay for a new boiler in the property and now can’t afford to lodge the deposit.

A. The deposit was never yours to use; the money belongs to the tenant until the end of the tenancy (when the landlord or letting agent may make a claim for some or all of it, depending on the terms of the lease), and provided that, in the above case, they can prove that the boiler had to be replaced because of the tenant’s actions. As such you will still need to protect the deposit to comply with the new legislation; failure to do so may result in you paying compensation of up to three times the deposit amount to your tenant.

Q. How is the system policed? 

A. The legislation, together with the terms and conditions of the LPS Scotland, provide ways for information to be provided between landlord and tenant, and for any disputes to be resolved.  For example, tenants may apply to the courts for up to three times their deposit amount should their agent or landlord fail to lodge their deposit on time and supply them with the required information (Regulation 42). Such an application may be made up to three months after the tenancy has ended.

Q. You have a sample template on your website for me to give to my tenant covering the required information they need to know.  Should I be providing my tenant with anything else to comply with the legislation?  

A. The required information template (Regulation 42) contains everything the tenant needs to be aware of according to the legislation. When funds are lodged against your property’s deposit we also supply you and your tenant with confirmation that the deposit is protected.

Q. If my tenant doesn’t pay the last month’s rent, how do I claim from the deposit?

A. At the end of the tenancy you can apply to your deposit protection scheme to retain some or all of the deposit, as long as the lease states that you can recover non-payment of the rent from the deposit. You can find out further information about this process on our website.

Q. What experience do you have in understanding the issues that landlords and letting agents in Scotland face?

A. I have been in the residential property industry for 25 years in Scotland.  I have faced the problems that you face and know your concerns.  Our system has been set up to help you, not only with administration but also to help alleviate your tenants’ concerns.

Anthony operates from The LPS Scotland’s Edinburgh office. 

Anthony’s tour de Scotland

Today we have a blog from Anthony Cox, The LPS Scotland’s Regional Manager: I have been adding many miles to my car lately; travelling to all parts of Scotland hosting free drop in sessions; helping landlords and agents become familiar with the Tenancy Deposit Schemes (Scotland) Regulations and our scheme.  The sessions have been well attended and it’s been great to meet so many of our customers and to answer your questions.  It is wonderful to watch people’s reactions to the explanation of the effect of the legislation - mostly glum to begin with (good landlords feel that the legislation has been landed on them and it is through the actions of a few bad ones that this system has been implemented) but within minutes they understand that the system is not as onerous as they expected, so they leave smiling!

I have been visiting landlords and letting agents on a one to one basis, geographically ranging from Fraserburgh and Aberdeen to Dumfries and Kelso, Oban and many places in between.

We are the only provider in Scotland with experience of running a custodial scheme, experience that counts when it’s time to return funds at the end of the tenancy - our sister company The DPS processes over 4000 transactions daily in England and Wales.  At one presentation in Aberdeen a letting agent explained that they had processed their first repayment with us and found it so much easier than they expected! We realise that deposit protection is a big change for landlords and letting agents, which is why we make it as simple as possible to administer.

Along the way I’ve heard some amusing and some frightening stories from the landlords and letting agents I have met. One landlord told me their tenant wanted to light a log burning stove, so put a log in the kitchen sink and covered it with petrol before carrying through the house.  Half the house fell down and the poor tenant was in hospital for six months.

In my next blog post I’ll be answering some of the common questions landlords and letting agents have been asking me. In the meantime, I’d like to know your thoughts on the following questions:

• What did you think about the legislation before it came into force and what, now you are familiar with it, are your thoughts today?

• How easy has it been for you to adjust to paying the deposit into a scheme rather than into a deposit account held and managed by you?

• How can you see the legislation helping landlords and how will they help tenants?

• Why did you chose The LPS Scotland – or indeed, why didn’t you?

All information will be anonymous so please don’t include property addresses!

You can email me your thoughts: Anthony.Cox@lettingprotectionscotland.com

Do you know your deadline for protecting your tenant’s deposit?

On the 2^nd October 2012, the second phase of timings for complying with The Tenancy Deposit Schemes (Scotland) Regulations kicks in. This means that any deposits received on or after the 2^nd October 2012 need to be protected in a government approved scheme within 30 working days of the start of the tenancy.

Any deposits received before the 2^nd October (but on or after the 7^th March 2011) need to be protected in that way by the 13^th November 2012.

If you have a deposit which you received from a tenant before the 7^th March 2011 you need to protect it within 30 days of the tenancy renewal date (if this is after 12^th November 2012), or if this doesn’t apply, by the 14^th May 2013.

We know this can sound quite confusing, so if you’re not sure when you need to protect your tenant’s deposit, visit our website where we have a Timescales for Compliance Calculator which will help to work out the date for you! All you need is the date you received (or will receive) the deposit and a tenancy renewal date if you have one.

If you would like to find out more about tenancy deposit protection in Scotland and how it affects you, we have lots of information for landlords and letting agents on our website, or you can check out our FAQ pages.

Our second prize draw winner is announced!

A lucky letting agent from Crieff is the second of our prize draw winners to win a hospitality package to the William Hill Ayr Gold Cup Opening Day. Dale and Robert Hobbs of Hobbs Lettings were automatically entered into the prize draw when they submitted a deposit to The LPS Scotland. The prize allows them to treat five of their colleagues, family members or friends to a five-star day out at the Ayr Cup on 20^th September 2012.

We’re delighted to welcome Hobbs Lettings as customers and we hope that they have a fantastic day out at the races.

Upcoming Events

Aberdeen Seminar and Drinks Reception, 18th September 2012 Following previous events in Edinburgh and Glasgow, we’re holding a seminar and drinks reception in Aberdeen on the 18th September 2012.

During the seminar you’ll be able to find out more about deposit protection legislation in Scotland and how it affects you. We'll also be discussing timelines for deposit protection and how to prepare if dispute resolution is needed.

The drinks reception will provide a great opportunity for you to meet some of The LPS Scotland team and network with your colleagues in the letting industry. If you’d like to attend please click on the link to RSVP below.

Date: Tuesday 18th September

Seminar: 15:00 - 17:00

Drinks Reception: 17.00-19.30 (drinks and canapés will be provided)

Location: Jurys Inn Aberdeen Hotel, Union Square, Guild Street, Aberdeen, AB11 5RG

Click here to RSVP

Drop-in Sessions

In September and October The LPS Scotland are holding information drop-in sessions across Scotland, where landlords and letting agents can pop in to meet some of our team, ask questions and have a demonstration of our system.

We’ll be running morning (10am – 1pm) and afternoon (3pm – 6pm) sessions at 25 locations across the country. Simply pop along when it's convenient for you – there’s no need to book.

To find out more and see the locations we’re visiting, please visit www.lettingprotectionscotland.com/events.

We look forward to seeing you there.

A Day at the Races for the lucky winners of our first prize draw

A lucky landlord from Perth and a national letting agent have won a hospitality package to the William Hill Ayr Gold Cup Opening Day. Letting agent Rettie & Co and landlord Mr Robertson were automatically entered into the prize draw when they submitted a deposit to The LPS Scotland. The prize allows them to treat five of their colleagues, family members or friends to a five-star day out at the Ayr Cup on 20^th September 2012.

We’re delighted to welcome Rettie & Co and Mr Robertson as customers and we hope that they have a fantastic day out at the races.

Two more lucky winners will be drawn from those who have registered their deposits online with The LPS Scotland between the 1^st August 2012 and 11.59pm on the 30^th August. Each deposit is automatically counted as one entry into the prize draw, so the more deposits registered the greater the chance of winning.

For more information please visit our website.

One month of deposit protection in Scotland

It’s been one month since legislation came into force requiring landlords and letting agents protect their tenant’s deposits in a Government approved scheme. We have been really pleased to see so many landlords and letting agents sign up to protect their deposits so quickly since the 2^nd July. If you’re confused about the deadline for protecting deposits, don’t forget you can use our simple compliance calculator which helps you to work it out.

Here’s our top 10 facts about deposit protection with The LPS Scotland:

1. It’s the landlord’s ultimate responsibility to protect a tenant’s deposit. An agent can be instructed to take/protect the deposit, but the landlord remains ultimately responsible for ensuring the agent protects it in line with the legislation.
2. If the tenant believes their deposit has not been protected in line with the legislation, they can make an application to the Sheriff under Housing Act (Scotland) 2006. If the court is satisfied the landlord has failed to comply, they may order the landlord to pay the tenant up to three times the tenancy deposit.
3. A deposit cannot consist of any property other than money (under the Housing Act (Scotland) 2006). A deposit is intended to be held as security for the performance of any obligations of the tenant, or the discharge of any liability arising under or in connection with the tenancy.
4. If there are multiple tenants at the same property, the landlord or letting agent has two options. A separate tenancy can be created in respect of each tenant, and are therefore each registered as ‘sole tenants’. Alternatively, a joint tenancy can be created and a lead tenant selected, who will act on behalf of all the other tenants.
5. Under the Housing Act (Scotland) 2006 landlords and letting agents have an obligation to provide tenants with information on the protection of their deposit. We have developed an Information Template you can download which when completed contains all the required information the tenant needs.
6. Landlords, agents and tenants can all request the repayment of a deposit to the appropriate parties at the end of a tenancy. When one party requests a repayment, the other needs to confirm whether they agree with the proposal, by completing a repayment response form - either online or by post. All deposits are repaid within 5 working days of a fully completed repayment claim.
7. Unique Repayment IDs are given to the agent/landlord and the lead tenant when a deposit submission payment has cleared. Each Repayment ID must be provided when a deposit repayment request is submitted. Repayment IDs should be treated as confidential and not given to the other party.
8. We offer a free ADR service to all our landlords and letting agents. This is an independent service that acts as an alternative to going to court, aiming to resolve disputes between landlords and tenants through evidence-based adjudication.
9. The legislation was introduced as the Government recognised deposits taken have been unfairly withheld at the end of the tenancy. The introduction of the Tenancy Deposit Protection encourages agents/landlords to set up tenancies correctly through the use of formal tenancy agreements, inventories, condition reports and other necessary documentation. The legislation aims to ensure good practice in deposit handling, so that when a Tenant pays a deposit and is entitled to get it back, he or she can be assured that this will happen.
10. The LPS Scotland is open to all letting agents and landlords to protect deposits for Scottish tenancies and is free to use. Our funds are secured with UK approved banks, and we are run by the only UK-based company with five years experience of running a similar custodial deposit protection scheme.

If you have any questions about deposit protection, our easy to navigate FAQ’s should have the answer or you can give our team a call on 0844 472 6666.

Have you protected your tenant's deposit yet?

We’re now into the third week of tenancy deposit protection in Scotland and it’s been great to see so many landlords and letting agents sign up so quickly to register their tenants’ deposits in line with the new legislation. If you’re still unsure of the timescales for complying with the regulations and when you need to submit your deposits, you can use the free compliance calculator on our website.

Anthony Cox from our Edinburgh office has been out and about visiting landlords and letting agents to talk through tenancy deposit protection obligations.  In the process we have had some really positive feedback about the effect of the new legislation, including comments that tenants are happier to rent knowing that their deposit will be protected. Anthony gives presentations to groups and individuals on request, and is very happy to travel the length and breadth of Scotland in order to do this! If you’re looking for someone to discuss deposit protection in Scotland with, Anthony is your man – and, as you can see from the picture, he has been embracing the Scottish spirit for our launch! He is a member of The Royal Company of Archers and is often on ceremonial duties when the Queen is in Scotland. If you want to get in touch with Anthony, you can email him.

If you register your deposit with The LPS Scotland on or before 30^th August 2012, you could be in with a chance of winning a day at the races! We’re running a prize draw where you can win hospitality tickets to the William Hill Ayr Gold Cup Opening Day at Ayr Racecourse.

There will be two draws – one if you submit a deposit to us up to and including 31^st July 2012, and one if you submit a deposit between 1^st August and 30^th August 2012. Every deposit submitted to The LPS Scotland within these times will qualify as one entry, so don’t worry if you’ve already submitted a deposit, you will have been automatically entered. To find out more, and read our terms and conditions, please visit our website.

Invitation to our launch celebration

In celebration of our launch this month, we are holding two drinks receptions on the 18^th and 19^th of July and I would be delighted for you to join us! The first event on the 18^th July will be held at The George Hotel in Edinburgh and the event on the 19^th will be at The Grand Central Hotel, Glasgow. Drinks and canapés will be provided.

You’ll be able to meet myself, Anthony and the rest of the team behind The LPS Scotland, as well as network with your colleagues in the letting industry. There’ll be information on tenancy deposit protection in Scotland and you can find out more about our ‘Win a Day at the Races’ promotion.

If you’d like to come along to one of these launch events, please let us know in advance by clicking on the relevant link below:

Wednesday 18th July Time: 17.00-19.30 Location: The George Hotel, Edinburgh Click here to RSVP

Thursday 19th July Time: 17.00-19.30 Location: The Grand Central Hotel, Glasgow Click here to RSVP

I look forward to seeing you there

Kevin

The LPS Scotland is now live!

Today is launch day! After being the first deposit protection scheme to be approved by the Scottish Government back in April, we are delighted to be launching today. If you are a landlord or letting agent in Scotland, it is now compulsory for you to protect your tenant’s deposits with an approved third-party scheme (within the relevant timelines). Anyone that doesn’t could face legal action with fines of up to three times the amount of the deposit paid by the tenant, so please make sure you understand what you need to do to comply with the legislation.

As a landlord or letting agent, you can follow these quick and simple steps to register your deposit:

• register online at www.lettingprotectionscotland.com;
• use our Timeline for Compliance calculator on the homepage, to make sure deposits are protected in line with Government timescales;
• submit deposits via The LPS Scotland website, or by post.

Don’t forget, you will be able to view and manage all deposits registered with The LPS Scotland online throughout the duration of the tenancy.

We know you’re bound to have loads of questions, so we’ve put a lot of information on our website www.lettingprotectionscotland.com, or you can call us on 0844 472 6666 (Monday to Friday, 8.30am-5.30pm, excluding weekends and English bank holidays). We have over ten years’ custodial deposit protection experience, so please don’t hesitate to contact us.

Introducing... Anthony Cox

We’d like to introduce you to Anthony Cox, the new Business Services Manager for LPS Scotland. Anthony is based at our Edinburgh office and is available to help agents, landlords and tenants understand the processes and implementation of the scheme and its requirements. 

Anthony comes to us with considerable experience in the lettings industry in Scotland. He has been letting properties for 25 years and has also operated as an independent property professional. He has experience running a property services company, which helped letting agents and landlords develop their brands, whilst also dealing with  ‘move ins’, maintenance and inspections, as well as ‘move outs’ including inventories, renovations and cleaning. Before joining us he was a member of the Association of Residential Letting Agents (ARLA) for eight years and was a member of ARLA’s Scottish Committee for three years.

We spoke to Anthony about his new role with The LPS Scotland:

“I’m looking forward to working with landlords, letting agents and tenants, to support the introduction of this new legislation.

“Various changes have been implemented through legislation over recent years, mostly with the intention to remove bad landlords from letting properties.  I have experienced situations where landlords and agents have retained some, if not all, the deposit paid by tenants for illegitimate reasons.  This is totally unacceptable and I have always been in favour of a system that improves the reputation of good landlords and letting agents. A letting agent’s client is the landlord yet they have a strong duty of care to the tenant too.

“The LPS Scotland is run by staff experienced in custodial scheme operation which is what attracts me and should be of importance to all parties involved: Agents, Landlords and Tenants.

“I’m really glad to be on board, and look forward to helping letting agents and landlords prepare and plan for the new regulations in the run up to and post launch on 2^nd July.”

If you would like Anthony to visit your office to discuss your TDP requirements, or have any questions feel free to email him at Anthony.Cox@computershare.co.uk

Anthony Cox

Lochside House

Edinburgh Park

Edinburgh

New event in Edinburgh announced!

Following the popularity of our previous free seminars, we’re pleased to announce that we’re running another ‘Introduction to Tenancy Deposit Protection’ seminar in Edinburgh, on the 27^th June. Over 130 people came along to our last set of seminars at the end of May and this free seminar will cover the legislation and how it will affect landlords and letting agents in Scotland. You can find out more about The LPS Scotland scheme, the dates for compliance and the adjudication process.

Previous seminar attendees have been interested to find out more about multiple tenancies and whether their current inventories were sufficient for the introduction of the legislation, so please do come along with any questions you have about The LPS Scotland, or deposit protection in general. 

To register for this event, please click on the link below.

Date: Wednesday 27^th June

Time: 3pm-5.30pm

Venue: Lochside House

Click here to register

If you would like more information visit our website www.lettingprotectionscotland.com or you can phone us on 0844 472 6666, or email us.

Get a head start on The Tenancy Deposit Schemes (Scotland) Regulations!

We were the first tenancy deposit protection scheme to be approved by the Scottish Government, and it’s not long now until we launch on 2^nd July. Landlords and letting agents in Scotland will have a legal requirement to start protecting tenancy deposits from this date. To be one of the first to use our scheme you can pre-register with our existing scheme in England and Wales, The Deposit Protection Service (The DPS). As soon as we launch on 2^nd July, all properties with a Scottish postcode will be automatically transferred from The DPS to your LPS Scotland account, which you can access using the same User ID and password.

Please note that, in view of the different legislative requirements, it is important that you do not submit deposit money at this stage.

To register with us now, simply visit www.depositprotection.com and select the option to register online. Use our postcode search facility, so we can accurately transfer the details to the LPS Scotland in July, and remember NOT to submit any deposit money at this stage.

Our phone lines are now live too!

Our phone lines have also gone live today, should you have anything you’d like to speak to one of our customer service agents about.

You can call us on 0844 472 6666, between 8:30am and 5.30pm Monday to Friday (excluding weekends and English bank holidays).

If you have any questions about how to register online, what your obligations are, what the timescales are for you to protect deposits, or any questions about the new regulations, you can call us, or visit our website.

You can also follow us on twitter, and our blog features our latest news and events

LPS Scotland launches compliance calculator to help landlords

Today we have launched our new online Timescales for Compliance calculator, which will help landlords and letting agents calculate the deadlines to secure tenant deposits. The date you need to have a deposit secured by, depends on the date the deposit is received. By entering this date into the online calculator, along with the deposit renewal date (if applicable), you will be able to calculate the date you need to protect it by, to comply with the Scottish Government deadlines.

We want to make it simple for landlords to navigate this new legislation, which is why we’ve launched this unique online tool to make the process of protecting deposits easier. You will be able to work out individual compliance dates in a matter of seconds.

We would urge landlords not to fall foul of the heavy penalties by failing to comply. Hopefully this calculator, along with other resources on our website will be helpful for landlords, letting agents and tenants to meet the deadlines set out by Scottish Government.

You can find our calculator on our homepage at www.lettingprotectionscotland.com

More seminars announced - find out about Scottish tenancy deposit protection!

Following the success of our ‘Introduction to Tenancy Deposit Protection Events’, we’re holding three further information sessions in May, in Inverness, Aberdeen and Glasgow. These free seminars will help landlords and letting agents find out more about the legislation and how it will affect you, the dates for compliance, the adjudication process and how The LPS Scotland scheme will work once it’s launched in July.

We will also be discussing what landlords and letting agents can do now to be ready once schemes launch and how to manage the process going forward.

If you’d like to attend, please register by clicking on the relevant link below:

Inverness Event

Date: Tuesday 29^th May 2012 15:00-17:30

Venue: Thistle, Inverness

Click Here to Register

Aberdeen Event

Date: Wednesday 30^th May 2012 15:00-17:30

Venue: Caledonian Thistle, Aberdeen

Click Here to Register

Glasgow Event

Date: Thursday 31^st May 15:00-17:30

Venue: IET Glasgow: Teacher Building

Click Here to Register

Keep an eye on our events page for information about new events and webinars as they are announced! If you’d like more information visit our website www.lettingprotectionscotland.com or email us.

Scottish Government approves The LPS Scotland as the first ever deposit protection scheme

I am delighted to announce that tenants, landlords and letting agents in Scotland are a step closer to guaranteed deposit protection, with the Scottish Government confirming it has approved its first deposit protection scheme, The Letting Protection Service Scotland (The LPS Scotland). The scheme has been given the go ahead to launch on July 2^nd.

Having already established The Deposit Protection Service (The DPS) in England and Wales, we already have five years’ experience of running a similar custodial scheme and know how to support landlords and letting agents through the transition of new legislation. The LPS Scotland will use this knowledge to provide fast, free and secure deposit protection to support Scottish landlords and letting agents in complying with regulations.

Learn more

A reminder that you can access helpful information about our service via a page on The LPS Scotland website.  Here you can view and download documents and familiarise yourself with our processes. You may find the following information particularly helpful:

Experience Matters – an overview of The LPS Scotland - Does exactly what it says on the tin. Provides an overview of The LPS Scotland and each process involved from registering to alternative dispute resolution.

Best practice in deposit protection for landlords - List of the key things you’ll need to remember with regards to tenancy deposit protection, including the importance of repayment IDs and tenants’ contact details.

Registering with The LPS Scotland - Process flow diagram that explains how to register with us.

Submitting a deposit - Process flow diagram that explains how to submit deposits once registered with The LPS Scotland

Events

We also regularly attend and organise events to ensure landlords and letting agents are kept up to date with the legislation, what it will mean for you and how The LPS Scotland will work.

We will be confirming a number of new events over the next few months, full details of those events can be found here.  Or, if you’d like us to send you more information on The LPS Scotland following approval from Scottish Government, send us an email or visit our website.

We’ll keep you up to date on developments here on the blog and you can also follow us on Twitter – @LPS_Scotland

Renters revolt against rogue landlords

Our recent survey of landlords and tenants in the UK shows that over 70% of tenants will challenge their landlord if their deposit is not protected and a massive 84% feel safer knowing their deposit is held independently as a result of tenancy deposit protection legislation. The legislation proved popular with landlords and agents as well, with over a third reporting that the introduction of tenancy deposit protection in England and Wales in 2007 has had a positive impact on the lettings industry.

This year, it will become compulsory for landlords and letting agents in Scotland to protect tenants’ deposits with an approved third-party scheme and the results of our survey demonstrate how the introduction of legislation will benefit both landlords and tenants. It also highlights that communication between tenants and landlords is key to the success of the scheme – with over 70% of tenants learning about the legislation from their own landlord.

As the operator of the only UK-based custodial deposit protection scheme our experience has taught us that by placing the deposit with a third party, tenants and landlords will be secure in the knowledge that the deposit is protected throughout the duration of the tenancy.

The new Tenancy Deposit Schemes (Scotland) Regulations 2011 became law in March 2011, and proposals to protect tenancy deposits are currently awaiting Government approval – The LPS Scotland is one of the proposed providers. Further details of the deposit protection schemes will be announced in the near future, following which every landlord that receives a deposit must comply with the regulations.

The introduction of this legislation is a positive step forward in Scotland. It’s now important that those in the private rented sector don’t fall foul of this legislation and take appropriate steps to ensure that they are prepared for its introduction.

You can find out more about protecting deposits at www.lettingprotectionscotland.com.

More dates added to our Scottish tenancy deposit protection tour!

We’re hosting and attending so many events over the next couple of months we’ve had to create a new page on our website to list them all! Our Introduction to Tenancy Deposit Protection events provide an introduction to the legislation, what it will mean for landlords, letting agents and tenants, discuss the adjudication process and how The LPS Scotland scheme will operate.

This month we’re running a couple of webinars – Kevin Firth will deliver the same presentation but online, giving you the chance to learn about tenancy deposit protection without even leaving your desk.

To register for a webinar click your preferred date below:

Thursday 23rd February - 10:00am-12:00pm

Tuesday 28th February - 2:00pm-4:00pm

We’ll also be heading to Dundee for a presentation on 6 March where you’ll be given our literature packs and freebies. The event details are:

Time: 3:00pm-5:30pm  

Address: Discovery Point, Discovery Quay, Dundee, DD1 4XA  

For more information or to register: Please click here

Compulsory deposit protection is creeping ever closer and it’s important that landlords and letting agents are up to speed with their responsibilities – these events will tell you what you can do now to be ready once schemes launch and how you can manage the process going forward.

If you’d like more information visit our website www.lettingprotectionscotland.com or email us.

New tenancy deposit protection guidance online now!

In my blog last week – ‘Countdown begins to teach Scottish landlords about new deposit responsibilities’ - we highlighted the importance of educating landlords, letting agents and tenants in order for tenancy deposit protection legislation to be effective. With this in mind and with the introduction of schemes in Scotland creeping ever closer we’ve focussed on attending and hosting as many awareness events as we can – we have a few more scheduled over the coming weeks, including two webinars so you won’t even have to leave your desks to attend! We’ve also been working hard to finalise our guidance documents so they’re available online for letting agents, landlords and tenants.

Our suite of documents contains all the information that you need in order to prepare for tenancy deposit protection and we’ll continue to add to this as we get closer to launch.

We’ve created a new page on the website where you can view and download each document and familiarise yourself with the processes. Here’s an overview and link to each document:

Experience Matters - an overview of The LPS Scotland - Does exactly what it says on the tin. Provides an overview of The LPS Scotland and each process involved from registering to alternative dispute resolution.

Best practice in deposit protection for landlords - List of the key things you’ll need to remember with regards to tenancy deposit protection, including the importance of repayment IDs and tenants’ contact details.

Registering with The LPS Scotland - Process flow diagram that explains how to register with us. Please note that as The LPS Scotland is still awaiting Government approval you are not yet able to register. As soon as we’re approved you’ll be able to do this online.

Submitting a deposit - Process flow diagram that explains how to submit deposits once registered with The LPS Scotland.

How to reclaim a deposit - Process flow diagram that explains the return of deposits at the end of tenancies.

A guide to tenancy deposits, disputes and damages - Industry agreed guidance on how deposit disputes are handled. Following the guidance in this document will assist you in setting up and managing tenancies correctly to have the best possible experience with your tenants and deal with disputes effectively should they arise.

A tenants' guide - Focused on the tenants’ responsibilities. It’s a good idea to download these and hand them to your tenant at the start of their tenancies so they know what’s expected of you, and them.

You can also visit the website for the latest news, details of our upcoming events and ways to get in touch.