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04/02/2013
Administrators Appointed To New Tenancy Deposit Schemes
Minister for Social Development, Nelson McCausland has announced the appointment of four administrators to operate new Tenancy Deposit Schemes in Northern Ireland.
The Assembly recently approved legislation requiring an independent third party scheme to protect tenant’s deposits from 1 April 2013.
Speaking about the scheme, Minister McCausland said: "Tenants across Northern Ireland can now be afforded the same protection as those in Great Britain. This scheme will provide assurances for tenants and protection for landlords helping to minimise long drawn out legal proceedings and disputes.
"Return of tenant deposits is an issue I hear of time and time again and I’m pleased that Northern Ireland citizens can now be reassured their money is safe.
"The new scheme will be operational from 1 April and will encourage a more professional approach to tenancy deposit practice, minimise disputes and go some way to improving the sector's reputation as a desirable option."
Four organisations have been successful in their application to provide both custodial and insurance schemes in Northern Ireland and have been appointed as scheme administrators. These four organisations are My Deposits; The Dispute Service (TDS); Letting Protection Service (LPS), and Capita.
(CD)
The Assembly recently approved legislation requiring an independent third party scheme to protect tenant’s deposits from 1 April 2013.
Speaking about the scheme, Minister McCausland said: "Tenants across Northern Ireland can now be afforded the same protection as those in Great Britain. This scheme will provide assurances for tenants and protection for landlords helping to minimise long drawn out legal proceedings and disputes.
"Return of tenant deposits is an issue I hear of time and time again and I’m pleased that Northern Ireland citizens can now be reassured their money is safe.
"The new scheme will be operational from 1 April and will encourage a more professional approach to tenancy deposit practice, minimise disputes and go some way to improving the sector's reputation as a desirable option."
Four organisations have been successful in their application to provide both custodial and insurance schemes in Northern Ireland and have been appointed as scheme administrators. These four organisations are My Deposits; The Dispute Service (TDS); Letting Protection Service (LPS), and Capita.
(CD)
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