Today is launch day! After being the first deposit protection scheme to be approved by the Scottish Government back in April, we are delighted to be launching today. If you are a landlord or letting agent in Scotland, it is now compulsory for you to protect your tenant’s deposits with an approved third-party scheme (within the relevant timelines). Anyone that doesn’t could face legal action with fines of up to three times the amount of the deposit paid by the tenant, so please make sure you understand what you need to do to comply with the legislation.
As a landlord or letting agent, you can follow these quick and simple steps to register your deposit:
- register online at www.lettingprotectionscotland.com;
- use our Timeline for Compliance calculator on the homepage, to make sure deposits are protected in line with Government timescales;
- submit deposits via The LPS Scotland website, or by post.
Don’t forget, you will be able to view and manage all deposits registered with The LPS Scotland online throughout the duration of the tenancy.
We know you’re bound to have loads of questions, so we’ve put a lot of information on our website www.lettingprotectionscotland.com, or you can call us on 0844 472 6666 (Monday to Friday, 8.30am-5.30pm, excluding weekends and English bank holidays). We have over ten years’ custodial deposit protection experience, so please don’t hesitate to contact us.