my|deposits, which already runs a successful scheme in England and Wales, is bidding to start a deposit scheme for landlords – my|deposits Scotland. A tenancy deposit scheme is where your deposit will be held for the length of your tenancy. Ian Langley, Director of Operations, my|deposits Scotland shares his thoughts on TDP in Scotland. Good practice in managing deposits can help avoid these problems. Once your new tenant has paid the deposit for the property, you have to lodge it with a tenancy deposit scheme within 30 working days of the tenancy starting. Our custodial scheme means that you joined mydeposits for free and transfer the deposit money to us to hold. There will be no cost involved for the tenant with registering your deposit with a tenancy deposit scheme. The landlord could be ordered to pay compensation worth up to three times the amount of the deposit on top. The Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force on 7 March 2011. Sign up today and benefit from our industry leading advice. my|deposits Scotland is a government-licensed scheme offering tenancy deposit protection in Scotland. my|deposits Scotland is administered by mydeposits.co.uk & Hamilton Fraser Insurance, proud holders of the Investors in People standard. A deposit is a payment taken from the tenant at the beginning of the tenancy. COVID-19. Your landlord has to register your deposit within 30 working days from the beginning of the tenancy with one of the available schemes. The my|deposits Scotland TDP workshops have so far been a great success. The three tenancy deposit schemes are: my|deposits Scotland; SafeDeposits Scotland; Letting Protection Service Scotland; If the deposit isn’t held in an approved tenancy deposit scheme, you can take civil legal action to get it back. This page looks at the best practice for landlords in managing deposits. my|deposits Scotland is a government-licensed scheme offering tenancy deposit protection in Scotland. Find out about our professional deposit protection services for landlords, letting agents, businesses and tenants in the private rental sector. Letting Protection Service Scotland; What will happen to my deposit? You can now filter and sort your deposit protection history. Deposit Protections that have passed their AST End Date that require action are now clearly highlighted. Member LOGIN. mydeposits Scotland, Borehamwood. You have the ability to Renew an existing tenant where you have issued a new AST without the need to re-enter all the tenancy details. There are three tenancy deposit scheme providers to choose from in Scotland: Letting Protection Service Scotland; Safe Deposits Scotland; my|deposits Scotland mydeposits Scotland, Borehamwood. ©2012 my|deposits Scotland is the trading name of Tenancy Deposits (Scotland) Limited. What is Custodial? Every landlord or letting agent that receives a deposit in Scotland must register with their local authority and join a tenancy deposit scheme. 214 likes. and also pay a protection fee that lets you hold the deposit in your bank account. Having now met face to face with almost 500 landlords, solicitors and agents, I felt it timely to share some of the main issues that have been coming up… Your landlord must register your deposit within 30 working days from the beginning of the tenancy with one of the available three schemes: Letting Protection Scotland; My Deposits Scotland; Safe Deposits Scotland If this is how you protect deposits login here. 216 likes. The Scottish Government has published advice for landlords and letting agents. There are three tenancy deposit schemes in Scotland: the Letting Protection Service Scotland, Safedeposits Scotland and My|deposits Scotland.. Subject to approval, the scheme will operate within regulations set out by the Scottish Government, and be completely free … mydeposits is a leading tenancy deposit protection scheme provider, authorised by the UK Government. What is a deposit?