Tenancy deposits
Private Landlords and letting agents can ask tenants for up to two months’ rent as a deposit, and they must pay that deposit into a deposit protection scheme. Landlords are not allowed to charge other fees, such as holding fees or key money.
What is a deposit used for?
The tenancy deposit is used in cases:
- There is damage to the property
- The landlord has to pay for cleaning bills after a tenant leaves the property in poor condition
- Outstanding unpaid bills, when a tenant leaves the property - utility or phone bills, etc.
- A tenant vacates a property with outstanding unpaid rent
Landlords cannot take money from a tenant’s deposit during the tenancy. Also, the deposit money cannot be used to pay for normal wear and tear, such as worn carpets and furniture.
Protecting a Tenancy Deposit
Private Landlords and letting agents are required to protect tenants’ deposits, through a tenancy deposit scheme. This must be done within 30 working days of the tenancy starting.
It's important that private tenants get a receipt from their landlords or letting agents when paying a deposit.
Landlords and Letting Agents must tell tenants:
- The date that they received the deposit
- The date that the deposit was protected by the deposit scheme
- What scheme the deposit is in
In Scotland, there are only three tenancy deposit schemes that landlords can use. Tenants can check the following websites -
- Tenants | mydeposits Scotland
- Contact Us - SafeDeposits Scotland
- Letting Protection Service Scotland - Is my deposit protected?
Help to pay a deposit
If potential tenants are having difficulty affording a deposit, or the first month’s rent, there are schemes that can help with this. These are called deposit guarantee schemes.
Usually, you can get assistance from a scheme if you’re:
- Over 18 years of age, or
- Homeless or about to become homeless, or
- Not homeless but need to move to more suitable accommodation, or
- Employed, if you do not have the funds to secure a private let, or
- On a low income or getting benefits
The main provider of this service in Fife is Fife Private Rental Solutions. Fife Private Rental Solutions can offer a deposit guarantee or a cash deposit. Further advice and information can be sought from Fife Private Rental Solutions directly on the contact details below:
Phone: 01592 201 849
Email: info@fprs.co.uk
