Tenancy Deposits In Jersey- 20/01/2017

With effect from 2 November 2015 residential leases in Jersey are subject to the residential tenancy deposit scheme (the "Scheme"). The Residential Tenancy (Deposit Scheme) (Jersey) Regulations 2014 have come into force under the Residential Tenancy (Jersey) Law 2011 (the "Law") and introduces the Scheme, a government authorised tenancy deposit protection scheme designed to safeguard tenants' deposits and regulate their return at the end of a tenancy. In the first instance, the Scheme is being administered by MyDeposits Jersey.

WHEN DOES THE SCHEME APPLY?

• The Scheme applies to all new, renewed or varied residential tenancy agreements.
• It requires landlords/letting/managing agents to lodge a tenant's deposit with MyDeposits (as administrator of the Scheme) within 30 days of receipt. Failure to do so is an offence and can incur a fine of up to £2,000.