*Imminent Changes*
Landlords in Scotland are waiting to hear about what types of tenancy deposit schemes will be on offer so that they can comply with new rules making tenancy deposits mandatory.
The Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force on 7th March 2011, following approval by the Scottish Parliament. Scottish ministers are considering proposals for the operation of tenancy deposit schemes which will be assessed against the conditions set out in the regulations.
Landlords in Scotland are waiting to hear about what types of tenancy deposit schemes will be on offer so that they can comply with new rules making tenancy deposits mandatory.
The Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force on 7th March 2011, following approval by the Scottish Parliament. Scottish ministers are considering proposals for the operation of tenancy deposit schemes which will be assessed against the conditions set out in the regulations.
Every landlord who receives a deposit and who is required to register in the local authority register of landlords in line with the Antisocial Behaviour (Scotland) Act 2004 (landlord registration) must also comply with the Tenancy Deposit Schemes (Scotland) Regulations 2011.
This includes landlords of assured and short assured tenancies, university accommodation, as well as various other types of occupancy arrangement.
Timing
The scheme will have an operational start date of Monday 2 July 2012.
The legal duties on landlords who receive a deposit in connection with a relevant tenancy will also be triggered from 2 July. The legal duties on landlords are:
· to pay deposits to an approved tenancy deposit scheme
· to provide the tenant with key information about the tenancy and deposit
To allow landlords and letting agents time to adjust to the new way of dealing with tenancy deposits the Tenancy Deposit Schemes (Scotland) Regulations 2011 set out the transitional arrangements for complying with the legislation.
Key dates for landlords and letting agents
The dates by which landlords must pay deposits to an approved scheme and provide information to the tenant vary, depending on when the deposit was received:
1. Deposit received prior to 7 March 2011:
Where tenancy renewed on or after 2 October 2012 and before 2 April 2013 (Regulation 47(a))
Within 30 working days of renewal
In any other case (Regulation 47(b))
By 15 May 2013
2. Deposit received on or after 7 March 2011 and before 2 July 2012 (Regulation 48)
By 13 November 2012
3. Deposit received on or after 2 July 2012 and before 2 October 2012 (Regulation 4)
By 13 November 2012
4. Deposit received on or after 2 October 2012 (Regulation 3)
Within 30 working days of the beginning of the tenancy
These pages will be updated accordingly.