Tenancy Deposit Scheme

Tenants’ deposits are normally twice the monthly rental. The purpose of the deposit is to cover damage to the property over and above normal wear and tear and/or any rent arrears or costs incurred as a result of a breach of the contract.

The 2004 Housing Act prevents Landlords from holding their own deposits. Deposits must be held either by a third party (Custodial Scheme) or by an insured agent (Insured Scheme). scottfraser are insured agents and will in all cases hold the deposit as members of The Dispute Service.

At the end of any tenancy, scottfraser will return the deposit to the tenant as soon as practicably possible, less any deductions agreed. However, occasionally, a dispute may arise regarding the proposed deductions. If this cannot be agreed between the two parties, scottfraser are able to refer any deadlocked disputes to The Dispute Service. Each case is sent to an Independent Case Examiner and subject to expert third party adjudication resulting in the apportioning of deposit money.