25 September 2009

mydeposits.co.uk, the only tenancy deposit protection scheme specifically designed for landlords, has welcomed the announcement by the Scottish Government that rent deposits will soon need to be protected.

Eddie Hooker, Chief Executive, mydeposits.co.uk, said

"This is great news for tenants in Scotland. Where deposits are being unfairly withheld, tenants will soon have an easy-to-use way of challenging their landlord or letting agent. Given the experience we have of operating an authorised scheme in England and Wales, we very much look forward to offering our full support and advice to the Scottish Executive as they seek to find the best way to implement mandatory tenancy deposit protection."

• Tenants whose deposits are protected by mydeposits.co.uk will receive a Deposit Protection Certificate. The landlord must provide this within 14 days of protecting the deposit.
• Tenants who would like to check if their deposit is protected with mydeposits.co.uk should go to: www.mydeposits.co.uk/tenants/tenant-isyourdepositprotected.htm

Ellie Irwin
mydeposits.co.uk
E: ellie.irwin@mydeposits.co.uk
T: 020 7840 8925

NOTES TO EDITORS:

About mydeposits.co.uk:

Mydeposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government. Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.