Slides from SPTR 2016

1. Tenancy Deposit Protection - An Overview
David Hackett
Senior Account Manager, LPS Scotland

2. Who are LPS Scotland?
› The most experienced provider of custodial deposit protection in
the UK
› The largest supplier of custodial deposit protection in the UK,
3.5m deposits, value £2.8bn
› LPS, Head Office located in Edinburgh
› Dedicated account management support
› Our service is based on three key, unwavering principles:
Fast, Free and Secure.

3. The Process: Registering A New Deposit

4. What do you need to do?
Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force on 7th
March 2011
A tenancy deposit scheme is a government approved scheme provided by an
independent third party to protect deposits until they are due to be repaid.
 Landlords responsibility is to ensured the deposit is paid to an approved TDP
scheme
 The tenant must be provided with the relevant information in relation to the
deposit, as detailed in ‘Regulation 42’ of the Tenancy Deposit Schemes
(Scotland) Regulations 2011
BOTH OF THE ABOVE MUST BE DONE WITHIN 30 WORKING
DAYS OF THE START OF THE TENANCY

5. How does it work?
Landlord registers with TDP Scheme
Tenant pays deposit to Landlord
TDP Scheme safeguards the deposit during the term of the tenancy
Landlord pays deposit to TDP Scheme within 30 working days
TDP Scheme sends payments to the Tenant and
the Landlord within 5 working days
At the end of tenancy, the Tenant and Landlord agree the repayment
of funds and apply to TDP Scheme for repayment

6. What happens if you don’t comply?
 Tenants will be able to start court proceedings against you for
non-compliance
 Any claim by the Tenant must be made within three months of the
end of the tenancy
 Sherriff will have the discretion to order you to pay the Tenant up to
three times the deposit amount
 Sherriff may also order you to pay the deposit to an approved TDP
scheme or supply the relevant information

7. The Process: Returning A Deposit

8. What if there is a dispute at the end of the tenancy?
 Each scheme runs a free Alternative Dispute Resolution (ADR) Service
 The Landlord and Tenant should always try to come to an agreement before
referring a case to the ADR Service
 In the event of a dispute, Landlord is deemed to agree to use the ADR
Service, Tenant has 30 working days in which to agree to use the ADR
Service
 If Tenant does not agree to use the ADR Service within 30 working days, the
disputed amount will be paid to the Landlord

9. Switching is easy
 Switching to our scheme is easy
 Register an account and create your tenancies individually or through our
simple bulk upload process
 We’ll contact your existing deposit protection provider and arrange for them to
transfer your deposit funds to your dedicated account with us
 Upon receipt of deposit funds, deposits will be active immediately and
confirmation will be issued to all parties
 We will support you through the process, just contact us on 0330 303 0031

10. The LPS Scotland – Easy and Simple