Tenancy Deposit Scheme Scotland
Edinburgh Residential are pleased to hear that the introduction of a tenancy deposit scheme looks set to go ahead in Scotland next year.
We have extensive experience of the scheme in England and find it generally fair to landlords and tenants. There is little control at the moment over what less scrupulous landlords charge tenants for deductions and no clear guidelines for landlords. Many tenants end their lease feeling unhappy or confused as to why charges have been applied.
What is key to the making the scheme work for both landlords and tenants is a detailed inventory (provided here at Edinburgh Residential with digital pictures as standard!) This takes away the subjectivity from damages and provides a clear picture to any independent party of the property. The days of an A4 lit of contents are long gone.
The one issue causing concern for landlords at the moment is that the scheme proposes to hold the deposit funds, only to be released when an agreement is met, this leave the landlord in a position to pay for any damages upfront until a decision is reached. We assume that there will be timescales set to ensure the swift handling of claims.
It will also be essential to have a good agent with experience of the scheme to advise on appropriate deductions and what constitutes ‘fair wear and tear’. This will ensure any disputes are resolved as quickly as possible.
We await further developments with interest. Please feel free to get in touch if you would like any advice on deposits or inventories. If you are a first time landlord we would be happy to talk you through what is involved, just submit an enquiry on the contacts page.
Oh, and Happy Halloween from all at Edinburgh Residential!