When a landlord, or an agent takes a deposit from their tenant, they must transfer it to a government approved Tenancy Deposit Scheme within 30 working days from the tenancy start date. Key information about the deposit and the scheme (often called the Prescribed Information) must be given to the tenant within the same 30 working day deadline.
Fail to comply and the tenant can apply to the Sheriff Court for a penalty fine of up to three times the deposit amount.
How to comply:
mydeposits Scotland has been designed to ensure landlords and agents comply with their legal obligations.
We are completely free to join and use.
Once you’ve lodged the deposit with us, it’s kept in a safe, designated account until the end of the tenancy.
Both you and your tenant must authorise its release using unique release codes.
If you and your tenant cannot agree over any proposed deductions to the deposit we offer a free and impartial dispute resolution service to resolve the dispute.