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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
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Experience:  English solicitor with over 12 years experience
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Is it necessary to comply with deposit protection legislation

Resolved Question:

Is it necessary to comply with deposit protection legislation if I have only one property and the deposit will be held in a seperate bank account?

D Robertson
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

Yes, if you receive a deposit, you are obliged to protect it by paying it into an approved deposit protection scheme and to provide the tenant with key information about the deposit and the tenancy. It does not matter whether you have only 1 property or more.

There are 3 schemes currently approved in Scotland, see here for further information:

http://www.scotland.gov.uk/Topics/Built-Environment/Housing/privaterent/landlords/tenancy-deposit-schemes

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