New Rules for Landlords
From 1st May, landlords will have a legal duty to provide new tenants with a Tenant Information Pack. The pack is designed to provide information to those in the privately rented sector and gives clear information about the property condition, tenancy agreements and the rights and responsibilities of landlords and tenants.
The information pack will have to be provided for all new assured and short assured tenancies in Scotland. This includes those tenancies where the landlord and tenant draw up a new lease although it will not be required for existing leases.
Letting agents must also comply with the legislation if they are letting a property on behalf of a landlord however the legal duty to ensure that the tenant received the pack rests with the landlord. Full details of the new legislation is available fromwww.scotland.gov.uk
Tenancy Deposit Schemes
Recently published research shows that 76% of all those polled were not aware that privately rented properties in Scotland now need to be held in a tenancy deposit protection scheme. Worryingly, 55% of those already renting privately were unaware of the scheme.
When asked if they knew of the deadline, only one in five (19%) private renters in Scotland knew all deposits need to be safely secured in a protection scheme by the upcoming deadline of 15th May.
Make Sure You Comply By the Deadline
Landlords who do not comply face having to pay their tenant up to three times the amount of the deposit when the leave the property.
SafeDeposits Scotland, the only Scottish based provider of the service and the only not-for-profit organisation urged landlords across Scotland to make sure they were signed up to the scheme by the 15th May deadline to avoided financial penalties.
For more comprehensive information about the regulation and how to register your deposit visit one of the three approved schemes at www.safedepositsscotland.com