Chamber News Article

Jersey Chamber of Commerce

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Category: Financial  Local Business News  States of Jersey

Tenancy Deposit Scheme Tender Published

Feb 04, 2020

Jersey’s government is inviting organisations to apply to run the Island’s tenancy deposit scheme. A scheme has been running in Jersey since November 2015 and the current five-year contract with Mydeposits expires on 31 October 2020.

Mydeposits was appointed as independent provider for the tenancy deposit scheme in September 2015, following a tender process earlier that year. Since 2 November 2015 all landlords and letting agents who take a deposit from their tenant on a new, renewed or varied tenancy agreement have been legally required to transfer the money to Mydeposits within 30 working days of receiving it. Those who fail to do so could be fined up to £2,000.

The scheme aims to give tenants confidence that the money they have paid is being held securely and will be repaid smoothly at the end of a tenancy agreement.

The Minister for Children and Housing, Senator Sam Mézec, said: “The tenancy deposit scheme has effectively protected deposits and resolved any disputes between landlords and tenants.

“I am pleased to be starting the process of appointing a scheme provider to ensure that landlords and tenants continue to benefit from the assurance the scheme provides. This reflects our commitment in the Common Strategic Policy to protect and enhance tenants’ rights.”

 Organisations that want to submit a tender are invited to explain how they will deliver such a scheme in Jersey. There is more information online.

Government of Jersey News Release.

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