SafeDeposits Scotland - New Scheme to Protect Landlords and Tenants to Gift Surpluses to Charity

SafeDeposits Scotland - New Scheme to Protect Landlords and Tenants to Gift Surpluses to Charity PR Newswire GLASGOW, Scotland, June 11, 2012 GLASGOW, Scotland, June 11, 2012 /PRNewswire/ -- The Scottish Government has granted a licence to SafeDeposits Scotland to run nda tenancy deposit scheme in Scotland. From 2 July 2012 landlords in receipt of a tenancy deposit will have to transfer the deposit to a licensed operator, such as SafeDeposits Scotland, to ensure they are securely held and that any dispute about their eventual return is resolved quickly by an independent party Chaired by Sir Andrew Cubie CBE, SafeDeposits Scotland is unique among scheme providers in that it is a partnership of Scottish landlord, agent and tenant organisations, backed by an experienced provider already operating in England. Unlike other operators, SafeDeposits Scotland is a n o t - f o r - p r o f i t o r g a n i s a t i o n and any s u r p l u s e s generated will be gift aided to its sister charity, SafeDeposits Scotland Trust. This charity will be a grant-giving charity designed to promote education, training and best practice in the private rented sector in Scotland. Malcolm Lindo, Managing Director of SafeDeposits Scotland, said: "We are delighted to have received our licence to operate a tenancy deposit scheme in ndScotland. We now have our sights on the next milestone, 2 July 2012, when we will be able to receive landlords' property details and start protecting deposits.