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Half a million pounds up for grabs in unclaimed deposits

Friday 27 April 2018

Tenants across the country are owed over half a million pounds in unclaimed tenancy deposits according to the latest figures published by SafeDeposits Scotland.

The country’s leading tenancy deposit protection scheme found that 2,309 tenants from Shetland to the Borders hadn’t yet claimed back their deposits worth £537,427.

Those renting in the capital topped the list for the most unclaimed deposits, with 802 tenants in Auld Reekie leaving £170,926.10 unaccounted for. The Edinburgh level is almost twice that in Glasgow (437 tenants) and more than three times higher than Aberdeen (259 tenants).

Edinburgh is also home to the residents due the highest and lowest unclaimed deposit amounts, at £3,746 and £0.06 respectively.  

The average value of deposits unaccounted for was highest in Shetland at £450 while those with Motherwell postcodes were the lowest on average at £145.95.

Victoria Smith, operations manager, at SafeDeposits Scotland, said: “Although there is a high level of unclaimed deposits across the country, there are clear regional disparities.

“At first glance the figure for unclaimed deposits may appear high, but in the last 12 months we proactively sought out tenants who were due their money back and returned over £445,000.

“If a tenancy runs smoothly with no deductions at the end of the lease, the tenant may be due the full deposit back. If the landlord or agent wants to make a deduction, tenants have access to SafeDeposits Scotland’s independent adjudication service to find an amicable resolution.

“There really is no need for deposits to go unclaimed. The process is straightforward and we have a team of helpful staff on hand to provide support to those who need it.”

For more information and advice on reclaiming your deposit, please visit: www.safedepositscotland.com