Scottish tenants forget half a million pounds in unclaimed deposit returns

Tenants renting in Scotland could be due hundreds of pounds in unclaimed deposit returns, a report has found.

Scotland’s leading tenancy deposit protection scheme, SafeDeposits, have revealed that nearly 2,000 renters haven’t claimed tenancy deposits worth over £500,000.

The average unclaimed deposit is worth £260, with regional variations.

Tenants in Edinburgh topped the table for the highest number of unclaimed deposits at 592, worth £149,692.

The capital is also home to the largest unclaimed deposit of £1,650 which has been left by the tenant since 2015.

At the other end of the M8, tenants in Glasgow left a higher average deposit value than those in Edinburgh; £284 and £253 respectively.

Tenants who rented properties in Motherwell postcodes (ML) had the lowest average value; £152.

Only one tenant in the ZE Shetland postcode area hasn’t yet claimed their £420 deposit.

Under The Tenancy Deposit Schemes (Scotland) Regulations 2011, landlords who take a deposit from tenants must register it with a government-approved scheme like SafeDeposits Scotland within 30 working days of the tenancy starting.

At the end of the tenancy, the landlord can request deductions, which the tenant can challenge through an impartial alternative dispute resolution process.

Tenants must contact the scheme their deposit is protected with to ensure the return of their money.

Set up with backing from RICS, Scottish Association of Landlords (SAL), Association or Residential Letting Agents (ARLA) and The Dispute Service, SafeDeposits Scotland proactively seeks to reunite tenants with their unclaimed deposits.

Since the start of this year it has returned £645,848 to 1,976 tenants.

Ian Potter, Chairman at SafeDeposits Scotland, said: “There are nearly 2,000 people who are due money that is rightfully theirs from their tenancy deposits and we’d like to help them get it.

“Tenancy deposit protection schemes like SafeDeposits Scotland were established to provide a safeguard for both tenants and landlords and act as an independent adjudicator should there be a disagreement at the end of the tenancy.

“If a tenancy runs smoothly with no deductions at the end of the lease, the tenant may be due the full deposit back.

If the landlord or agent wants to make a deduction, tenants have access to SafeDeposits Scotland’s independent adjudication service to find an amicable resolution.

“There really is no need for deposits to go unclaimed. The process is straightforward, and we have a team of helpful staff on hand to provide support to those who need it.”

For more information and advice on reclaiming your deposit, visit: www.safedepositscotland.com