Safe Deposits

THE Residential Tenancy (Deposit Scheme) (Jersey) Regulations 2014 are intended to come into force in the near future. The main aim of these regulations is to introduce rental deposit protection for all residential tenancies in Jersey. The regulations will remove the risk of tenants' rental deposits being unfairly withheld by landlords and managing agents when tenancy agreements come to an end and will provide a simple framework to assist landlords and tenants in the management of deposits. In essence, deposits will be held by a third party and will not be released until the same party is content that both landlord and tenant are in agreement.

How does the scheme work?

The regulations provide for the formation of an independent body, known as the Deposit Scheme, which will hold property deposits. The scheme will be managed by a scheme administrator who will report to the Minister for Housing. The role of scheme administrator is currently out for tender.