Scottish Government Consultations on TDS

Last week I went to the Scottish Government Consultations on the first two schemes to be announced (these were noted in my December Blog).

The Letting Protection Service Scotland and SafeDepositsScotland both have schemes, which are understandably similar because they must match the definitions in the legislation. There is a good description for those interested in how it works.

Our preference and the scheme we will probably use is the one from SafeDepositsScotland. This is partly because it is backed by the RICS - who regulate us - and partly because they have a not-for-profit model. We believe that good landlords and good agents, who have good inventories, have nothing to fear from this.

Once a scheme has been approved by the Government, which is assumed to happen within the next two to three months, all new tenancies will have to have the deposits lodged with a scheme. All landlords and letting agents will then also have 9 months to lodge all the existing deposits with a scheme.

Clan Gordon has been prepared for this for a long time and all our tenancies have good quality inventories. This will make it much easier to work within the scheme and ensure any tenant damage or necessary cleaning is paid for by the tenant.