Tenants in Scotland are due over £500,000 in tenancy deposits that have not been claimed after they moved home, new research suggests.
According to tenancy deposit protection firm SafeDeposits Scotland while over £445,000 in unclaimed deposits were returned to tenants last year there are still 2,309 deposits amounting to £537,427 unclaimed.
Edinburgh had the highest number of unclaimed deposits at 802 at £213.12 per tenant but the area with the highest average unclaimed deposit is Shetland at £450 per tenant.
The amount unclaimed in Edinburgh amounts to £170,926.10, almost twice that in Glasgow where 437 tenants have unclaimed deposits amounting to £109,052.50 and more than three times higher than Aberdeen where £70,874.02 is unclaimed from 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.
‘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. Although there is a high level of unclaimed deposits across the country, there are clear regional disparities,’ said Victoria Smith, operations manager at SafeDeposits Scotland.
‘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,’ she explained.
‘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,’ she added.
