| by Kenneth Chase | No comments

All about tenancys deposit in the private rented sector | Renting Scotland

A tenancy deposit, which can be
equivalent of up to two months rent, acts as a guarantee against any damage,
cleaning costs, or unpaid bills left by the tenant during their stay. As soon as
the deposit is paid it must be registered by law in a
government backed tenancy deposit scheme, which protects the tenant’s money until
it’s due to be repaid. This should be done by the landlord or agent – either online
or by phone – within 30 working days after the tenancy starts. Once the tenant has
moved out the landlord will apply for the deposit to be released, and the
tenant will need to respond to confirm if they agree with the amount. If the tenant has left the property in good condition, they’ll get the full amount back. If any
costs need to be deducted, that amount will be released to the landlord. Your
deposit scheme should offer a service to deal with disputes about the deposit, if
there are any. For more detailed information about
tenancy deposits, visit rentingscotland.org

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