Springtime – a great time for mid-tenancy inspections

With winter gone and spring now in full bloom, there’s no better time to inspect your property to check for damage or wear caused by seasonal weather conditions and assess if any repairs are required.

Maintaining your property can help you avoid bigger repair costs further down the line. It’s also a great opportunity for you to check the property against the check-in report and note any differences that may need addressing. Though your tenants may have alerted you to any major issues that arose over the winter months, they may not have noticed less prominent problems that may be of concern to you.

Outside your property

Winter can be hard on the outside of a property. Frosts, high winds, and heavy rain can all take their toll. Here are a few things to look out for, as a quick repair or touch-up now, could save you money in the long run.

  • Check the roof for cracked or missing tiles

  • Check the condition of any woodwork to make sure there’s no rot

  • Keep an eye out for any worn or peeling paint.

It’s also a good time to review the condition of the garden. Responsibility for garden maintenance is subject to what’s laid out in the Tenancy Agreement, but whether you or your tenants are responsible, it’s still worth making sure that boundary fences and walls are still solid. It’s likely the garden will be ready for a bit of TLC as new life springs up, so if your tenants are responsible for maintaining the garden area, the inspection is a good opportunity to remind them of their responsibilities and to flag any concerns you identify.

Inside your property

Take a look around the property for any signs of damp such as black mould. The bathroom and kitchen are the most likely areas for problems to appear and windows, particularly single glazed ones, are prone to moisture build up due to condensation.

Some damp issues may arise as a result of tenant activity such as in the bathroom or kitchen. It’s also a good idea to keep an eye out for damp in rooms where you wouldn’t usually expect it, as this could be an indicator of a bigger problem that needs addressing.

The inspection is also a good time to check the condition of the rest of the property and any furnishings against the original check-in report and inventory. If you spot an issue now, raise it with your tenants. If it turns out to be something caused by their actions, it will give them the opportunity to rectify it now rather than it becoming a problem at the end of the tenancy.

After the inspection

It’s important that you keep a record of the inspection as this can help you to avoid disputes later on. When you compare against the check-in report, note any changes, sticking to facts about condition rather than conjecture about cause. Gather evidence such as photos, emails, or receipts for any work completed. It’s also important to share your notes with your tenants and give them the opportunity to give feedback on your findings. Keep any email or text discussions with your tenants as these could serve as vital evidence in the event of a dispute.

Mid-term property inspections help you and your tenants keep the tenancy on track and avoid disputes when they eventually move out of the property. Our website has lots of helpful information on how to gather and record evidence that can support your claim in a dispute, or even help you avoid one altogether.

Are you open to lets with pets?

The Dogs Trust campaign ‘lets with pets’ states: “Landlords and letting agencies who exclude pet owners from their properties are missing out on a large share of the rental market, as almost half of households in the UK currently own a pet.

Christmas is traditionally a time of year when many people choose to get a pet for themselves or their family, but if one of your tenants asks for permission to keep a pet in the property, do you know how you’ll react?

The benefits of permitting pets

Allowing pets in your property may seem like a risk but permitting tenants to keep a pet can set you apart from other landlords. It may improve your relationship with your current tenants, and even add a premium to the rental value you can achieve.

According to The Dogs Trust, over half of all households owns a pet. This means by excluding pets, you’re missing out on a huge part of the rental market. Allowing pets can increase the demand for your property, and attract responsible tenants looking for a long term let.

  • Tenants may stay longer

Once a tenant finds the holy grail of a tenancy that allows a four-legged friend, they are far less likely to leave it.

  • Rents can be more profitable

If it means they can have a pet, many tenants will be willing to increase the rent by a small amount to account for additional wear and tear.

  • Pet owners can be more responsible

For most people, a pet is like a member of the family and they take their ownership very seriously. To have a pet you need commitment, a regular income and a responsible nature – all things you would list when you think about a desirable tenant.

It’s also good for your tenants’ wellbeing and happiness. Having a pet can help them increase exercise, provide companionship, and reduce anxiety levels.

If you’re concerned a pet in the property might unleash potential problems, we’re here to help you with some practical points to help make your lets with pets a success.

1. Know the law

If your property is leasehold, you'll need to ask other leaseholders if they're ok with pets. Check to see if this is the case. Even if you want to accommodate your tenant’s wishes, you might not be able to. However, if your tenant needs an assistance dog, you must allow them to live in the property.

2. Double check your insurance

Ask your current insurance provider if your policy covers accidental pet damage. Landlord insurance doesn’t usually have this feature as standard. You might need a different type of policy to make sure you're covered.

3. Get your terms down in writing

Make sure your boundaries are set out in writing. Whether you don’t want any animals bred in the property, or you only want the pet you agreed to and no more. Make these clear, concise and share them with your tenant on a document you can both sign and keep.

4. Ask for a pet reference if possible

If your tenant is moving from one house to another, it could be a good idea to ask them to provide a reference from the previous landlord. If the animal was well behaved and didn’t cause damage at a previous property, it’s extremely unlikely they will cause any in yours. If they haven’t lived anywhere with the animal before, you could ask the tenant to provide a reference from the vet, ensuring the animal isn’t aggressive and has all its vaccinations and flea treatments etc.

If you want to check for yourself, you could meet the tenant with their pet before you agree to them moving in as part of the pre-tenancy referencing.

5. Arrange regular inspections

As long as they are pre-agreed and everyone is present, more regular inspections can give both you and your tenant peace of mind that the property is still in good condition. It means that any issues can be flagged before the end of the tenancy. It also reduces the chance of disputes as communication will be more regular.

If you do agree to your tenant having a puppy, the Kennel Club has some great advice. Their campaign #bepuppywise gives great advice, from how to buy a puppy to how to train a pet.

Key information for tenants during the COVID-19 outbreak

The coronavirus pandemic has required us all to change how do things so we can work together to stop the virus. This has understandably raised several questions and concerns for tenants. The Scottish Government has created the following guidance for tenants to help them through this difficult time.

Key information for tenants in the private rented sector during the COVID-19 outbreak

To help you understand your rights and access information about the support available, the Scottish Government has worked with tenants’ rights groups, landlord and letting agent representatives and the tenancy deposit schemes to send you links to key information for tenants in the private rented sector.

We hope you find this helpful.

Renters’ rights

Discretionary Housing Payments (DHPs)

If you rent your home, and you get Housing Benefit or Universal Credit, but still can't afford your housing costs, you may be eligible for a Discretionary Housing Payment. You can find more information on DHPs, and how to apply by clicking here.

Financial support

If you have less money because of COVID-19 or have questions on work, including information on the furlough scheme or are self-employed, this Citizens Advice Scotland page provides advice and information. There is also advice about being aware of coronavirus scams.

If you want to talk through your problems with an independent impartial expert adviser or have a question that isn't answered here, you can go to https://www.cas.org.uk/ to find your local CAB's contact details or phone the Scottish Citizens Advice Helpline on 0800 028 1456.

If you are having trouble paying your rent or have questions about financial support or if you are struggling with gas and electricity bills Shelter Scotland has advice and information on this page.

You can contact Shelter Scotland on their helpline or for a digital chat option here.

There’s also information on financial support for unpaid carers.

Other issues

If you are a young person

Young Scot has information specifically for 11-26 years olds about looking after your finances during coronavirus, how your work might be affected coronavirus, looking after your mental health and wellbeing, and other issues.

If you identify as LGBTQ+

Stonewall Scotland provide links to a range of support services.

If you are disabled

Disability information Scotland provide a range of information via their website and phone line. The phone-line is staffed between 9:30 and 4pm it can be reached by calling 0300 323 9961.

Amendments to Scottish Regulations

First introduced on 7 March 2011, the Scottish Tenancy Deposit Schemes Regulations state that all landlords and letting agents in receipt of tenancy deposits must transfer the deposit to a government approved tenancy deposit protection (TDP) scheme within 30 working days of the tenancy start date. They also need to provide all tenants on the tenancy agreement with certain information, including which scheme holds the deposit and circumstances where any of the deposit might be kept at the end of the tenancy.

On 11 November 2019, several amendments to the original regulations were introduced. To help you stay fully informed, we’ve outlined the main amendments below. You can find the fully updated regulations here.

1) Exception introduced to landlord’s requirements to pay a deposit into a TDP scheme within 30 days:

Landlords have to pay deposits into a TDP scheme within 30 days but the latest amendments outline an exception; if a tenancy is terminated and the deposit returned to the tenant before the end of the 30-day period, the rule no longer applies.

2) Provision added to allow payment of deposits in instalments

Sometimes, landlords may want to allow tenants to pay the deposit for the tenancy in instalments rather than all at once. This can can be helpful in shared tenancies, for instance, where tenants have different move-in dates. Although this flexibility is now outlined in the regulations, it has been something we’ve allowed our clients to do for many years.

3) Tenancy Deposit Schemes must inform tenants of the sanctions that apply to landlords who haven’t paid a deposit into the scheme within the designated period

The scheme holding the deposit must now tell tenants about the sanctions that can be placed on landlords who may not have complied with the outlined requirements. We’ve therefore added a new information box to our deposit submission notifications, incremental deposit payment notifications, deposit repayment notifications and deposit repayment reminder notifications. Here’s what the information says:

4) Landlords must provide certain additional information to tenants upon receipt of each instalment of their deposit

From now on, when payment of each deposit instalment is made to a TDP scheme, landlords have to provide tenants with the information below, updated to reflect the fact that tenants can pay their deposits in instalments

New electrical safety regulations for Scotland's landlords

New electrical safety regulations for Scotland’s private rented sector come into force on 1 December, requiring landlords to conduct electrical checks on their properties. To explain the rationale behind the new law and your responsibilities as a landlord, we’ve invited Phil Buckle, Director General of the charity Electrical Safety First, to give you the lowdown on the changes.

Scotland’s PRS has more than doubled in size in the last ten years. Yet in 2012, almost two thirds of PRS homes failed to meet the Scottish Housing Quality Standard and concern over disrepair and safety in the sector inevitably increased – particularly since poor electrics are often ‘invisible’, lying undiscovered until a serious accident occurs.
 
That’s why last year’s Scottish Housing Act included a requirement for regular electrical checks of both the electrical wiring and fittings etc. in all PRS homes by a registered electrician, and any electrical items provided as part of the tenancy. The regulation will come into effect from 1 December this year for tenancies that begin on or after this date.  Existing tenancies will be covered by the regulation from 1 December 2016, giving landlords time to organise inspections for their properties. 

Electrical checks must be undertaken at least every five years, and landlords will need to provide tenants with a copy of the latest Electrical Inspection Condition Report (EICR). Testing must be undertaken by an electrician who’s registered with one of the government’s approved schemes (to find an electrician in your area, click here). 

All electrical appliances that have been checked should carry a Portable Appliance Testing (PAT) sticker. The Scottish Government’s guidance also recommends – but has not made mandatory – the installation of a Residual Current Device in the fuse box of all rented homes, which will rapidly cut off the current to prevent electric shock.  

Electrical Safety First led a wide coalition of stakeholders – including the Scottish Association of Landlords, Shelter Scotland, the Royal Institute of Chartered Surveyors Scotland and the Association of Residential Letting Agents - in the call for regular electrical checks. In addition to providing additional security for tenants, it was also seen as beneficial to landlords, who can face significant financial risks from fires and invalidated insurance claims, if they fail to ensure electrical safety in their rented properties. 

As there has been a long-standing requirement for landlords to provide an annual gas safety certificate, this new duty is seen as beginning to bring electrical safety on par with gas, and is a small price to pay for landlords to ensure the safety of their property and their tenants. Electrical Safety First is now working with Westminster and politicians in Wales and Northern Ireland, to ensure that this essential safety requirement is extended to tenants and landlords throughout the UK.

For more detailed information on the new regulation, visit www.prhpscotland.gov.uk/new-legislation-website-changes 

Electrical Safety First has also produced a Landlord’s Guide to Electrical Safety (Scotland) which you can find here.

Deposit disputed... Who decides?

THERE once was a landlady who – to prove her former tenants had left a wooden floor in a filthy state – took off her shoes and dared to walk across it. How do we know?

We were sent the “before” and “after” pictures of the soles of her feet.

Now that deposits must be protected, what do you do if a tenancy comes to an end but you and the tenant/landlord cannot agree how it should be distributed?

Not everyone applies such imaginative evidence gathering as the landlady who removed her shoes. But she did prove a point:

Where there is a dispute, evidence is king.

Before the Tenancy Deposit Schemes (Scotland) Regulations came into force the only route for warring landlord and tenant was a court of law.

Part of the reason for the new regulations was to create an Alternative Dispute Resolution (ADR) service, free of charge for tenants and landlords. The ADR service provides impartial, qualified adjudicators who will examine evidence from both sides and decide how the deposit should be divided.

Being free and completely independent means they’re not biased towards landlords or tenants. The only thing they’re interested in is evidence.

Fair, independent and impartial

If you feel you may need to use the ADR service then you’ll find our Guide to Tenancy Deposits, Disputes and Damages helpful as a useful starting point.

Meanwhile, here are the five key things to remember if you do use the service:

  • Both sides will have their say.
  • The deposit belongs to the tenant. The landlord must prove a legitimate claim on the money.
  • The ADR adjudicator is only interested in evidence. If a claim is made without evidence it is likely the claim will fail.
  • The importance of a properly completed inventory (preferably independent) cannot be underestimated.
  • In using the service, both sides agree to be bound by the decision.

No one wants disagreements over deposits. However, it’s inevitable that they will happen and when they do occur it’s very often because landlords and tenants haven’t spoken for a while; so it might be a good idea to pick up the phone or start tapping out an email before it gets to that point.

But it’s good to know – if dispute is unavoidable – that a free, legal alternative to court proceedings is there for you.

If you have any questions on our ADR service our FAQ page might have the answers for you.

We’ll also be rolling out a series of ADR workshops across Scotland, so please keep an eye on the website for more details.

By the way, if you want to see the foot look below!

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 2nd.

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.

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.

Countdown begins to teach Scottish landlords about new deposit responsibilities

The countdown has begun to educate Scotland’s landlords, letting agents and tenants about tenancy deposit protection. The legislation came into force in March 2011 and landlords and letting agents will shortly be required by law to hand that deposit over to an approved third-party custodial scheme – like The LPS Scotland - to ensure it is properly protected.

The Scottish Government implemented the legislation after its research found that 8,000 – 11,000 tenants a year had part or all of their deposits unfairly withheld, equating to between £2.2 and £3.6 million*.

With over 5 years’ experience of running a similar custodial scheme, we know that educating landlords, letting agents and tenants is essential if the legislation is to be effective.

Landlords need to be aware of their new responsibilities to ensure that they don’t fall foul of the regulations and tenants also should take time to learn about the new legislation, to make sure their deposit is securely protected within the new 30 day timeframe.

The new legislation will go a long way to giving tenants, landlords and letting agents the reassurance that deposits are secured properly and the return of money at the end of the tenancy is structured and fair.

We’ve been in Scotland all week speaking at events in Edinburgh, Glasgow and Aberdeen to ensure this message is getting out to the Scottish market and we’ll be setting up further sessions, including an online webinar in the next few weeks.

You can stay up to date with the latest news either here, or on our website and we’ll post details of future events as soon as they become available.

You can also follow us on Twitter - @LPS_Scotland

The LPS Scotland is in the process of being approved by the Scottish Government to protect tenancy deposits on behalf of tenants, landlords and letting agents. The service will be free to use and run by Computershare Investor Services PLC which also operates The DPS the only UK-based custodial deposit protection scheme.

Scotland a step closer to tenancy deposit protection

Our application to run a custodial tenancy deposit protection scheme in Scotland has entered public consultation; you can now view the terms and conditions of our scheme on the The Scottish Government website. The consultation is required by Part 4 of the Housing (Scotland) Act 2006 and will look at the proposed framework of our scheme to ensure it meets all the conditions set out in the Tenancy Deposit Schemes (Scotland) Regulations 2011.

As our operating company also runs the only custodial scheme in England and Wales (The DPS), our application to Scottish Government has benefited from this wealth of experience – we know the process inside and out. We’re experienced in fast deposit repayment, having returned over 900,000 since launch, we have extensive customer support channels online as well as an effective call centre and text messaging service and our adjudicators have resolved over 12,000 disputes quickly and efficiently. Everything we have developed over the last 5 years in England and Wales will be brought to The LPS Scotland service and whilst there are some differences between the Scottish legislation and that in place in England and Wales, we’re well placed to deliver the scheme north of the border.

The Scottish Government has already reviewed our proposed scheme, to ensure compliance with the regulations, and will now await further comment from the public consultation.

We’ll keep you updated with the consultation process, but in the meantime, if you’d like more information on The LPS Scotland you can read our overview brochure.

We’re also running a series of events in which we’ll give you a detailed introduction to the legislation, our scheme and the dispute resolution process. Our next events take place in Glasgow (14th December) and Aberdeen (10th January).

For more information, visit www.lettingprotectionscotland.com.

We're heading to Glasgow and Aberdeen to talk about tenancy deposit protection!

We've finalised some new presentation dates in Glasgow and Aberdeen where landlord and letting agents can learn more about deposit protection, the adjudication process, how to prepare and how The LPS Scotland will operate when approved. Kevin Firth, our Director will host the following events:

Glasgow - Wednesday 14th December 2011

Time: 10:00-12:30

Address: Mercure Glasgow City Hotel, 201 Ingram Street, Glasgow, G1 1DQ

Email us to register for this event 

 

Aberdeen - Tuesday 10th January 2012

Time: 10:00-12:30

Address: Doubletree by Hilton, Aberdeen City Centre, Beach Boulevard, Aberdeen, AB24 5EF

Email us to register for this event

 

The LPS Scotland will launch early next year following approval from the Scottish Government and as soon as the first scheme launches, landlords and letting agents will have to start protecting tenancy deposits.  

We look forward to seeing you at an event soon. For more information visit our website and follow us on Twitter.

 

What do Scottish letting agents really think of tenancy deposit protection?

We had the chance to chat to some letting agents at our event in Edinburgh the other week and capture their thoughts on tenancy deposit protection on camera. Agents from Ace Property Management, M E Lettings and 1-2-1 Property Limited gave us their views - I'd be interested to know whether you share their thoughts and how you've been preparing for the legilsation.

If you'd like to attend one of our tenancy deposit protection presentations and find out what the legislation means for you and how our scheme will operate, we're posting new dates for Aberdeen and Glasgow very soon!

For more information, visit our website or send us an email.

Letting agents and landlords already preparing for tenancy deposit protection in Scotland

We’ve had a busy week in Scotland with the Scottish Association of Landlord’s Conference on Tuesday, our own seminar in our Edinburgh office on Wednesday and the East Lothian Landlord’s Forum yesterday. It’s also been a great opportunity to meet a number of landlords and letting agents, get their reactions to tenancy deposit protection legislation and find out how their preparations are coming along.

The majority of landlords and agents at our seminar yesterday were aware of the implications of the new legislation. In fact I spoke to several agents who had already started educating their landlords and changing documents appropriately.

We recorded a few video snippets from some of the delegates which we’re making into a video as we speak – expect that uploaded here soon.

Whilst we covered the impact of the legislation, how The LPS Scotland would operate, and dispute resolution, we gauged from the questions posed that the attendees were keen to explore the whole subject of our dispute service in much greater detail.

General consensus in the room was that the dispute resolution process would present them with the biggest challenge. In fact we had planned on hosting some more intensive ADR workshops for landlords and agents following the launch of the scheme, but after feedback yesterday, we’re looking to host one early next year.

During the workshop landlords and letting agents will get the chance to act as an adjudicator and actually assess  real cases and present their findings. We have used this format with landlords and agents in England and Wales who have found it hugely beneficial.

As well as the more in-depth ADR workshop, we’re planning more introductory presentations in Scottish towns and cities over the coming weeks and will post dates very soon.

If you’d like to attend an event then send us an email and we’ll issue all the information to you.

Alternatively, if you have any questions that let us know either here, via email, or on Twitter.

The Letting Protection Service Scotland (The LPS Scotland) prepares to protect tenancy deposits

As you may know, the Scottish Government is introducing legislation that will make it compulsory for all landlords and letting agents in Scotland who take deposits for a relevant tenancy to protect them with a Government approved custodial tenancy deposit scheme. The LPS Scotland has submitted an application to run a scheme and, once approved by the Scottish Government, will be the only provider with any experience of running a custodial tenancy deposit protection scheme.

It will be operated by the same company who run The Deposit Protection Service (The DPS) – the only company with five years’ experience of running a custodial scheme. The DPS - which currently operates in England and Wales – has protected more than 1.7m deposits to date, amounting to more than £1.3 Billion.

Experience matters and having already established The DPS from the beginning we know how to support landlords and letting agents through the transition of new legislation. We’ve established tried and tested systems, developed robust processes and continually innovated to ensure we’re providing the best possible service to our customers.

When approved, 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.

A bit about the legislation

Under the Tenancy Deposit Schemes (Scotland) Regulations 2011, which came into force in March 2011, landlords and letting agents will have a duty to protect tenants’ deposits as soon as the first approved scheme launches. From that date they’ll have 30 days to protect deposits for all new tenancies. Landlords holding deposits for existing tenancies will have 9 months from the launch of the first scheme to protect their tenants’ deposits.

The scheme will hold on to the deposit for the duration of the tenancy – providing assurance to tenants that it is not being used for any other purpose – and at the end of the tenancy both parties will agree on how the deposit should be repaid. The DPS currently repays deposits in an average of two working days from the point of agreement.

Kevin Firth, Director of The DPS will be giving a presentation on 9th November at our Edinburgh office where you can learn more about the legislation, what it will mean for you and how The LPS Scotland will work once approved.

He’ll also be sharing his experiences of running the scheme for landlords and tenants in England and Wales.

If you’d like to attend the event please email us to register your interest. 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 via Twitter (LPS_Scotland).