Private Rented Sector - Rent Deposits
A deposit is a sum of money, normally paid at the start of a tenancy which acts as a guarantee against:
- damage to the property;
- cleaning bills if you have left the property in poor condition;
- bills that are left unpaid, for example fuel or telephone bills; and/or
- any unpaid rent.
- The amount that can be charge as a deposit cannot be more than the equivalent of two months rent.
Deposits paid to a landlord must be registered with a tenancy deposit scheme within 30 working days of the tenancy starting.
What are the approved schemes?
There are three government-approved schemes that landlords can register their tenant's deposits with:
In addition to registering the deposit, landlords will have to give the tenant specific information, including the amount of the deposit and the details of the scheme where it is being held. The deposit will then be kept by the scheme administrator in an account maintained solely for the purpose of holding tenancy deposits until they are repaid. The landlord must also give proof of registration with the local authority when the deposit is paid over.
Tenancy Deposit Schemes from Renting Scotland
Moray Keyfund Rent Deposit Guarantee Scheme
We run a rent deposit guarantee scheme to help people on low incomes access private rented housing. To find out more about the scheme including how you can register an interest, see our page ‘Moray Keyfund Rent Deposit Guarantee Scheme’.
Housing and Property