How to Get Your Deposit Back

20 May 2017

Colour RGBIt’s getting to that time of the year again. Exams have begun and your imminent move out is getting closer. SafeDeposits Scotland have shared some straightforward advice on how to claim your deposit back.

Where is my deposit held?

If you rent your home and pay a deposit, your landlord or letting agent is legally required to protect your money with a tenancy deposit scheme. Fineholm have protected your deposit with Scotland’s leading tenancy deposit scheme, SafeDeposits Scotland.

How I get my deposit back?

When your deposit was transferred to SafeDeposits Scotland, we emailed you your log in details for our website. If you live with other people, we also confirmed which person is the lead tenant. The lead tenant is responsible for responding to or entering a repayment request when the tenancy ends.

After you move out, Fineholm will usually log in to our website and enter a repayment request first. This will confirm if they want the full deposit repaid to you and your flatmates, or if they want to keep any for unpaid rent, damage, etc. We’ll email you a copy of their request. If you’re the lead tenant, you should log in to our website to agree or disagree with the request.

If you’re not the lead tenant, you should log in to add your bank details.

If the lead tenant agrees with the request, we’ll repay the deposit within five working days.

Is there anything I should do before I move out?

You should double-check that you have your welcome email which confirms your log in details for the SafeDeposits Scotland website and who the lead tenant is. If you can’t find your welcome email, please get in touch.

You should also log in to our website to make sure we have your up-to-date email address on record, as this is what we’ll use to contact you after you move out.

How long does the process of getting your deposit back take?

The repayment process is fastest when the repayment request and response are entered as soon as possible. For example, Fineholm can enter a repayment request and you can respond to it on the same day, which means we’d repay the deposit within five working days after that. You can help speed up the process by speaking to Fineholm before you move out to reach an agreement on how the deposit should be repaid.