Are your te­nancy de­posits safe?

Scottish Field - - FOOD & DRINK -

By Jen Paice, CEO of SafeDe­posits Scot­land

There are over 250,000 pri­vate land­lords in Scot­land and if you are one you’ll know one thing: your time is valu­able to you.

Whether you are let­ting one or more prop­er­ties, from small flats to large estates, you sim­ply don’t have the lux­ury of time to be jug­gling the ad­min of hold­ing a de­posit along­side your day-to-day de­mands.

So, when the Te­nancy De­posit Schemes (Scot­land) Reg­u­la­tions came into force a few years ago, land­lords were told to pay their de­posits to a neu­tral third party or face fi­nan­cial penal­ties. SafeDe­posits Scot­land, was one of three or­gan­i­sa­tions formed to hold de­posits and to help land­lords and let­ting agents com­ply with the new reg­u­la­tions.

As a re­sult, many in the pri­vate rented sec­tor were – un­der­stand­ably - con­cerned they would soon be fac­ing even more leg­work in or­der to com­ply. Nearly four years on and what we’ve found from our cus­tomers is, in fact, the op­po­site: in­stead of added work, our cus­tomers are reap­ing the ben­e­fits from us­ing our hassle-free ser­vice and sav­ing both time and money.

As Scot­land’s lead­ing te­nancy de­posit scheme, we’ve been able to se­cure over 100,000 de­posits so far be­cause we pro­vide the peace of mind of know­ing your de­posits are safely pro­tected in a ring-fenced ac­count and will be fairly re­turned or dis­trib­uted at the end of a te­nancy.

There’s noth­ing more frus­trat­ing than get­ting through to a face­less call cen­tre and speak­ing to some­one who is read­ing off a script. That’s why we are proud of our in-house cus­tomer ser­vice team who are based at our Glas­gow Head­quar­ters.

They han­dle over 4,000 calls a month from land­lords based in the UK and abroad, an­swer­ing 94% of these within 30 sec­onds, re­ply to emails within an hour dur­ing work­ing hours and go above and be­yond to help cus­tomers man­age their ac­counts ef­fi­ciently.

Should a dis­pute over de­posit re­pay­ment arise at the end of a te­nancy, we want to help both land­lords and ten­ants avoid the ex­pense and stress of tak­ing their claim to court. Our free dis­pute ser­vice is ad­ju­di­cated in­de­pen­dently, fairly and quickly based on ev­i­dence pro­vided by both par­ties.

This year we’ve launched the SafeDe­posits Scot­land Trust to sup­port im­prove­ments in the pri­vate rented sec­tor. Prof­its ac­crued from in­ter­est on our de­posits will go to­wards fund­ing ed­u­ca­tion and train­ing projects sug­gested by those in­volved in the in­dus­try.

Whether you’re a land­lord who hasn’t al­ready signed up, or whether you have but want to make sure you’re get­ting the best ser­vice for you and your ten­ants, we’ll be at the other end of the phone when you need us. Jen Paice is CEO of SafeDe­posits Scot­land, the only te­nancy de­posit scheme based in Scot­land. See www.safede­positss­cot­ more de­tails.

or call

03333 213136


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