The Scottish government has come up with schemes related to the renting sector in Scotland, a scheme that is seen beneficial to both the landlords and tenants of Scotland.
The government has given a license to SafeDeposits Scotland for running a tenancy deposit scheme in Scotland. The recently operationalized scheme, basically meant for the landlords on receiving the tenant’s deposit to be transferred to an autonomous body like SafeDeposit, which will keep the deposit money safe of the tenant and will return at the time when the contract gets over. Like this, the issue of landlords not returning the tenants’ deposits will be resolved.
The Scottish scheme provider is an organization consisting of Scottish landlord, agent and tenant, is a not-for profit organization whose any surplus being made shall be transferred to its sister trust – SafeDeposits Scotland Trust as a charity which will be used to promote education, training and fair practices in the private rented sector in Scotland.
The scheme is a real good one empowering the tenants and bringing forth transparency, accountability and fairness to both parties involved.
Steve Harriott, Director of SafeDeposits and Chief Executive of The Dispute Service, said "We are delighted that SafeDeposits has now been granted its license. It's the only not for profit tenancy deposit scheme in Scotland and is controlled by directors with the interests of Scottish landlords and tenants at heart. We fully expect it to be a great success."
Robin Parker, President of NUS Scotland, said, "Tenants, including many students, have waited a long time for a scheme that will protect their tenancy deposits from the small minority of landlords that unfairly deduct or withhold their deposits. Safe Deposits Scotland will therefore not only be good for tenants, but also reward the good landlords and, in time, raise money for good causes in Scotland - a win, win I'm sure all will agree."
Bob Doris MSP, Convener of the Cross Party Group on Housing, said: "I am delighted that the first providers of tenancy deposit schemes as licensed by the Scottish Government are now gearing up to take on their duties from this July. It is commendable that this service will afford greater protection for tenants. It will also be achieved without any additional cost to tenant or landlord, as well as creating an independent dispute resolution system when needed. It is expected that when there is no dispute between tenant and landlord that deposits will be returned within five working days. I believe this has the prospect of being an excellent service."